U.S. inflation indicators showed impact on bitcoin price growth


When it became known about the decline in the growth of the American consumer price index, the price of bitcoin on January 13 on the main cryptocurrency exchanges rose above $19,000.

Binance, MEXC Global and OKX fixed BTC above $19,000 at around 9:30 a.m. Moscow time with a 4% increase in value during the same day. 

U.S. inflation was 6.5% in December after 7.1% a month earlier; it is the lowest rate since October 2021 and is in line with analysts' expectations. This has increased speculation that the Fed will cut interest rates by up to 25 basis points at its meeting, which ends Feb. 1. According to the CME Group, which suggests a 92% probability of such an event. 

Ethereum, Ripple and Polygon also rose in value overnight: Ethereum by 0.6%, Ripple by 1.4% and Polygon by 2.9%. As a result, the market capitalization of cryptocurrencies increased by 1.9%, amounting to $942 billion in 24 hours.

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