Bitcoin Price Nears $41,000 as U.S. Inflation Jumps to 8.5%

  • U.S. inflation hits new 40-year record at 8.5%.
  • Bitcoin traded green above $40,500 as the index reading came above market expectations.
  • Gasoline prices increased by 18.3%, while energy rose 32% over the last year.

Bitcoin has been holding on above the $40,000 mark as U.S. inflation rose to yet another 40-year high of 8.5%, according to data released by the U.S. Bureau of Labor Statistics (BLS) Tuesday morning.

Track live crypto price of 10000+ coins!

Inflation numbers for last month, scored by the Consumer Price Index (CPI), denoted the biggest annual jump in prices since 1981. The 8.5% inflation rate came above market expectations and surpassed the 8.4% level last seen in January 1982.

Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: