As December inflation figures fell to 6.5% Bitcoin led the crypto market in a continuance of its rally.
Price inflation much lower
The consumer price index (CPI) figures came in today, and on an annualised basis inflation hit the expected much lower rate of 6.5%, down from 7.1% a month ago.
With what surely must be seen as quite an aggressive drop, bitcoin made hay and led most of the crypto market higher, although initially bitcoin did appear to falter and it took the market a few hours to digest the news and decide that the move was upwards.
Bitcoin continues its rally
At time of going to press bitcoin has been up as high as 5.8% on the day. A move of this kind of magnitude to the upside has not been seen that often since bitcoin has traversed down and sideways since June of last year.
Given that the relative strength indicators (RSIs) have topped on the daily time frame, it could be time for bitcoin to take a pause for a while, but who knows, as first $19,000, and then the $20,000 r
We współpracy z: https://cryptodaily.co.uk/2023/01/crypto-rallies-on-lower-inflation-figures
