Quick Take
The Dec. 12 US CPI inflation data revealed that the headline inflation year over year matched the expected result of 3.1%. Similarly, the core inflation year over year did not stray from the predicted 4.0%. These statistics indicate consistency in economic forecasting, demonstrating that the inflationary situation is developing as anticipated by analysts.
In the backdrop of this unfolding inflationary scenario, Bitcoin’s value broke $42,000 on Coinbase, briefly up 1.8% on the day, before falling back below $42,000.
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