Bitcoin briefly clinched $90,000 after the November Consumer Price Index report showed a drop in US inflation, but the essential components for an extended rally remain elusive.
Bitcoin (BTC) moved closer to reclaiming $90,000 after US inflation cooled more than expected, with the November CPI coming in at 2.7% year-over-year versus forecasts of 3.1%. The softer print narrows the gap to the Federal Reserve’s 2% target, easing near-term inflation pressure and reviving risk appetite across markets.
Key takeaways:
The lower-than-expected CPI print generated a positive response from Bitcoin as new positions opened versus the usual short covering.
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