The bitcoin exchange rate has risen sharply in the past two days and hit $26,000, a 9-month high. The cost of the first cryptocurrency rose after the publication of inflation data in the United States, which slowed to its lowest since September 2021.
The cost of bitcoin rose to $26,000 and hit a 9-month high, according to trade data.
According to current data at press time, bitcoin has risen in price by 7.3% over the past day. In one month, its rate increased by 18.8% and, since the beginning of the year, by 57.7%.
The bitcoin price rose sharply after the publication of data on the slowdown in inflation in the United States to 6%, the lowest since September 2021.
The Federal Reserve System (FRS) decides to change the key rate based precisely on the rate of inflation, so that the regulator can slow down the pace of rate increases. Experts expect a 25 percentage point rate hike at the next Fed meeting, to be held on March 21-22.
After bitcoin, the second cryptocurrency has risen in price. Over the past day, the Ethereum rate rose 9.8% to $1.7k. Total cryptocurrency market capitalization rose 11.8% to $1.16 trillion over the day.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
