Bitcoin, the top cryptocurrency by market capitalization, experienced a significant 7% increase from its recent low below $59,000 following the release of a higher-than-expected U.S. Consumer Price Index (CPI) inflation report. This surge in price goes against the trend earlier in the week, where Bitcoin had been giving up gains during U.S. trading hours.
As of now, Bitcoin has seen a 5.5% increase in the past 24 hours, surpassing the 4.7% gain of the CoinDesk 20 Index (CD20).
