Bitcoin It rose above $91,000 for the first time on Wednesday, adding to a post-election rally as traders pored over October inflation data on Wednesday.
The price of the flagship cryptocurrency was last up more than 2%, reaching $91,705. At one point it reached a new record of $92,066.16.
Traders were digesting the latest consumer price index, which showed prices rose 0.2% in October, pushing 12-month inflation to 2.6%. This is as expected
Bitcoin has recently benefited from a post-election surge in risk assets, with many investors viewing it as a hedge against potential fiscal policies that could stoke inflation.
Other cryptocurrencies also received a small boost as traders digested post-election gains over the past week. ether and Solana The coins were both up about 1%.
Dogecoin Added 8%. Tesla has emerged as one of the biggest winners since the election thanks to CEO Elon Musk’s involvement in President-elect Donald Trump’s campaign and his upcoming role in his administration announced late Tuesday.
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