Summary
- After the U.S. CPI announcement, Bitcoin surpassed $100,000, according to analysis.
- The Coinbase premium returned to positive territory, strengthening the spot buying pressure.
- Some analysts believe Bitcoin could rise to $110,000.
On the 11th (local time), the cryptocurrency specialist media Cointelegraph analyzed that "Bitcoin (BTC) has surpassed $100,000 again following the U.S. Consumer Price Index (CPI) and spot buying pressure."
The media explained, "As the U.S. November CPI met expectations, the Coinbase premium (the price difference between Coinbase and Binance) returned to positive territory, and with the spot buying pressure remaining strong, signals have started to appear that BTC could break its all-time high again."
It continued, "In the futures market, resistance has appeared at the $101,500 level in the short term," adding, "Some analysts see BTC rising to $110,000."
Previously, the U.S. Department of Labor announced that the November CPI rose 2.7% year-on-year, meeting market expectations.
Meanwhile, BTC is trading at $100,557.91, up 5.72% from the previous day, based on the Binance Tether (USDT) market as of 03:53 on the 12th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
