Bitcoin's price surged by $1,500 in seconds, reaching $69,636, following the release of US Consumer Price Index (CPI) data indicating slower-than-expected inflation. The CPI showed a month-on-month and year-on-year increase of 3.3%, both below forecasts. This unexpected drop in inflation fueled optimism in risk assets, including Bitcoin. Analysts anticipate potential easing of financial policies by the Federal Reserve, which could further support Bitcoin's upward momentum.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.