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Bitcoin Price Nears $41,000 as U.S. Inflation Jumps to 8.5%

  • U.S. inflation hits new 40-year document at 8.5%.
  • Bitcoin traded inexperienced above $40,500 as the index studying got here above market expectations.
  • Gasoline costs elevated by 18.3%, whereas vitality rose 32% during the last 12 months.

Bitcoin has been holding on above the $40,000 mark as U.S. inflation rose to one more 40-year excessive of 8.5%, in accordance to information launched by the U.S. Bureau of Labor Statistics (BLS) Tuesday morning.

Inflation numbers for final month, scored by the Consumer Price Index (CPI), denoted the biggest annual jump in prices since 1981. The 8.5% inflation charge got here above market expectations and surpassed the 8.4% degree final seen in January 1982.

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