Bitcoin broke through the key level of $25,200 after the latest consumer price index reading came in as expected.
Highlights
- Bitcoin is up 22% since Friday, when regulators shut down Silicon Valley Bank, and has risen 52.1% in 2023.
- Earlier in the day, it rose to $26,513.27, its highest level since June 13, just before its pre-FTX bottom.
- The CPI data showed an increase of 0.4% in February from January, matching the consensus estimate of economists polled by Dow Jones.
- The core CPI, which removes volatile food and energy prices, showed a monthly increase slightly above economists’ expectations, and a year-over-year change in line with expectations, according to the Dow Jones index.
- Bitcoin broke through the key level of $25,200 on Tuesday.
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Bitcoin is up over 22% since the low last week.