The price of Bitcoin is up since Wednesday, hovering around $66,000—the highest since April 24—according to CoinGecko data, in reaction to better-than-expected inflation data. The latest Consumer Price Index, published Wednesday by the Labor Department's Bureau of Labor Statistics, shows that inflation increased by 0.3%, seasonally adjusted.
This beat analyst predictions, with economists polled by Reuters forecasting the CPI gaining 0.4%, in line with February and March. The CPI climbed 3.4% year over year after increasing by 3.5% the prior month.
