Massive Bitcoin Volatility as US Inflation (CPI) Clocks in at 7.1% For November

The United States Bureau of Labor Statistics published the numbers for the Consumer Price Index.

This is the most commonly-used metric to gauge inflation in the United States, and it clocked in at 7.1%.

• As it’s almost always the case, this caused massive turmoil in the cryptocurrency market, and most of the coins are going through serious volatility.

• At the time of this writing, Bitcoin’s price is trading around $17,800 on Binance.

Source: Binance via TradingView

• BTC surged to a high of $18,000.

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