"Investor okay yesterday? Fortunately, BTC fell for a moment.”
Yesterday's United States (US) Consumer Price Index (CPI) data reading that showed inflation rates were higher than expected caused the price movement of the cryptocurrency king Bitcoin (BTC) to slip at $21,600 but rose again at $22,300.
Following that, most investors speculated that BTC would break above $25,000 in the short term.
Although the crypto market saw positive momentum after the CPI data, the situation could turn the other way around if the United States (US) Securities and Exchange Commission (SEC) continues to act aggressively against the digital asset industry.
Turning to the CPI data explanation, inflation jumped to 6.4% in January compared to market expectations of 6.2% but it was still the lowest reading for 7 months, where the previous month was at 6.5%.
Please note that the inflation data continues to excite the crypto community as they believe BTC has the potential to climb higher in the future.
This is because the crypto market last month saw a fluctuating price movement after the release of the CPI data, but managed to rise massively the next day.
As of this writing, BTC price has gained 2% to hover at $22,132 in the last 24 hours with a market capitalization of around $427 billion.
