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News Explorer — Bitcoin Price Over $63,100 as US Inflation Data Exceeds Expectations

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May 15, 12:51 pm
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Bitcoin Price Over $63,100 as US Inflation Data Exceeds Expectations

Bitcoin's price has risen by 3% in the past 24 hours and is now at $63,142, following the release of US data showing higher-than-expected inflation in April. The Consumer Price Index (CPI) report indicated a 3.4% increase in consumer prices compared to last year, with housing and gas prices being the main contributors. Despite reaching a record high of nearly $74,000 in March, Bitcoin's price has been affected by concerns over inflation and the Federal Reserve's interest rate decisions.

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