Cryptocurrencies rose Thursday morning as new inflation data for December was in line with expectations.
Since Wednesday afternoon, the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC) , has traded roughly 3.3% higher and had topped $18,000 as of 10:12 a.m. ET today. The world's second-largest crypto, Ethereum (CRYPTO: ETH) , traded roughly 3.5% higher, while the meme token Dogecoin (CRYPTO: DOGE) was up about 1.1%.
Investors were anxiously awaiting key new inflation data released this morning. The U.S. Bureau of Labor Statistics reported that the Consumer Price Index (CPI), which tracks the cost of a market basket of goods and services, fell 0.1% in December from November. On a year-over-year basis, the CPI came in 6.5% higher, which is in line with what economists had been expecting.
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Bitcoin Climbs Above $18,000; Ethereum and Dogecoin Are Rising as Well