Bitcoin price returns to $22K despite ‘least volatile’ US CPI reaction


Bitcoin (BTC) ticked above $22,000 after the Feb. 14 Wall Street open as crucial United States inflation data delivered “mixed” results.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

BTC price hits five-day highs on CPI

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it tested multi-week lows twice on hourly timeframes before reversing upward.

The pair saw flash volatility in line with predictions as January’s Consumer Price Index (CPI) numbers hit, something repeated at the start of trading on Wall Street.

Still within a tight trading range, however, Bitcoin’s reaction was in fact fairly muted, with up and down moves only involving several hundred dollars at a time.

That reflected the CPI data itself, which broadly conformed to market expectations. A moderate exception was year-on-year, which ran “hot” at 0.2% above the envisaged 6.2%.

“US inflation mixed,” markets commentator Holger Zschaepitz wrote in part of a social media reaction.

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