Bitcoin Dips With Stocks After US Report of 6.5% CPI Inflation

Bitcoin ( $60,537.00 ) has risen from about $16,500 to begin 2023 to a one-month high of $18,250 earlier Thursday. While part of the advance was likely due to nothing more than some investor bottom-fishing after the crypto’s ugly 2022 run, at least some of the gains were thanks to optimism the Fed monetary tightening cycle could close at some point in early to mid 2023.