Bitcoin Price Climbs to 2-Week High at $114K Ahead of US CPI Data: Market Watch

Bitcoin’s price jumped by a few grand yesterday and has maintained around $114,000 ahead of the highly anticipated US CPI data, which will be announced later ￰0￱ larger-cap altcoins are in the green as well, with DOGE and XLM surging by up to 3%. AVAX has risen by over 6%. BTC Rises Before US CPI Data The primary cryptocurrency tried to take down the crucial $113,000 support on a couple of occasions in the past week, but each attempt was met with an immediate ￰1￱ subsequent decline drove it south by a few grand, as it happened on September 6 and September ￰2￱ bulls initiated another leg up in the past 24 hours that also saw BTC challenge that ￰3￱ time, though, the asset was a lot more successful as it finally breached that level.

Moreover, it kept climbing and tapped a 17-day peak of $114,500 earlier this ￰4￱ it has retraced slightly since then, it still trades around $114,000. More volatility is expected later today when the US CPI numbers are set to be ￰5￱ past few such occasions led to immediate price declines before bitcoin managed to recover the lost ￰6￱ now, though, BTC’s market cap has risen to $2.270 trillion, while its dominance over the alts has calmed at 56% on CG. BTCUSD.