Bitcoin jumps above $96,000 as improving inflation data pauses crypto sell-off – NBC 5 Dallas-Fort Worth
Bitcoin bounced on Tuesday, rising with other risk assets as traders digested a light inflation reading.
On Tuesday the price of the flagship cryptocurrency rose 3.7% to $96,363.58, according to Coin Metrics, after sliding below the $90,000 support level to start the week. The broader crypto market, as measured by the CoinDesk 20 index, added 3.4%.
Shares of Coinbase and MicroStrategy gained about 4% each in premarket trading. Mining stocks Mara Holdings and Core Scientific were up by roughly the same amount.
The move comes as the Bureau of Labor Statistics reported cooler-than-expected inflation Tuesday. The producer price index, which measures wholesale inflation, increased just 0.2% in December, while economists…
