Investing.com– Bitcoin climbed slightly on Wednesday, steadying from a recent price rout as traders shied away from big bets ahead of key U.S. inflation data. Consumer price index (CPI) accelerated slightly in November, in line with estimates.
The world’s largest cryptocurrency remained squarely within a $90,000 to $100,000 trading range established over the past few weeks, amid cooling optimism over friendly regulations under incoming President Donald Trump.
Broader crypto prices jumped on the CPI report, which boosted the odds of an interest rate cut later this month.
rose over 1% to $98,910.0 by 09:42 ET (14:42 GMT).
November CPI rises 0.3% sequentially, in line with estimates
Consumer prices accelerated on an annual basis in November, underscoring that inflation remains a concern for both households and policymakers.
According to data from the Bureau of Labor Statistics…
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