{"id":72411,"date":"2023-01-12T09:03:05","date_gmt":"2023-01-12T07:03:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72411"},"modified":"2025-09-08T14:59:04","modified_gmt":"2025-09-08T11:59:04","slug":"bitcoin-breaches-18000-as-u-s-inflation-data-are-released","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-breaches-18000-as-u-s-inflation-data-are-released\/","title":{"rendered":"Bitcoin breaches $18,000 as U.S. inflation data are released"},"content":{"rendered":"

In the early hours of January 12, Bitcoin rose above $18,000 for the first time since mid-December 2022. In the last 24 hours the cryptocurrency gained 4%, according to CoinGecko<\/a>.<\/p>\n

At the time of writing, the asset traded near $18,100. The price rise was accompanied by a surge in trading volume.<\/p>\n

\"bitcoin
Hourly BTC\/USDT chart on the Binance exchange. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

The flagship asset typically pulled the rest of the market along \u2014 all assets in the top 10 by market cap were in the green. The strongest movers were Ethereum (+4.9%) and Cardano (+3.5%).<\/p>\n

\"Top10
Data: CoinGecko<\/a>.<\/figcaption><\/figure>\n

According to Coinglass<\/a>, over the past 24 hours liquidations on the futures market affected positions totaling more than $245 million. Of these, nearly $112 million were tied to Ethereum-based contracts (~$77 million \u2014 Bitcoin derivatives).<\/p>\n

The rise in the price of the leading cryptocurrency came amid expectations of a slowdown in inflation in the United States. On January 12 at 15:30 (Kyiv)\/16:30 (Moscow time) the BLS<\/span> will publish the value of the consumer price index (consumer price index, CPI). <\/p>\n

According to CNBC<\/a>, the consensus among analysts is for the CPI to slow to 6.5% year over year (7.1% in November). In experts\u2019 view, the core inflation rate will be 5.7% (6% a month earlier).<\/p>\n

The U.S. Bureau of Labor Statistics released<\/a> inflation data in the United States. As expected, the CPI for December stood at 6.5%. The core inflation rate fell to 5.7%.<\/p>\n<\/div>\n

The American stock market also reacted positively to the upcoming CPI release. At the end of the trading session on January 11, the Dow Jones Industrial Average rose 0.8%, the S&P 500 gained 1.28%, and the NASDAQ Composite Index rose 1.76%.<\/p>\n

\n

Stocks rose Wednesday as investors grew increasingly confident that Thursday\u2019s consumer price index will show cooling inflation. <\/p>\n

The Dow rose 0.80%.
The S&P 500 popped 1.28%.
The Nasdaq surged 1.76%. https:\/\/t.co\/M9yITEYf4R<\/a> pic.twitter.com\/nABPAu5zfm<\/a><\/p>\n

\u2014 CNBC (@CNBC) January 11, 2023<\/a><\/p><\/blockquote>\n