Market Analysis: Bitcoin rose after the latest CPI showed inflation slowing more than expected in November. The CPI offered the latest evidence that the US central bank’s efforts to stem inflation are benefitting asset prices. GWilliamsJr_CMT reports
on Tuesday. The report showed U.S. inflation rising 7.1% versus the 7.3% projected by economists responding to a FactSet survey. Core inflation, which excludes more volatile food and fuel costs, increased 6% versus expectations of 6.2%.
Bitcoin and ether prices jumped immediately after Tuesday’s CPI announcement and were recently up 3.9% and 4.7%, respectively. An inverted yield curve occurs when shorter-term debt has a higher yield than longer-term debt. Inverted yield curves have historically preceded economic recessions and imply declining confidence in short-term economic prospects.
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