Bitcoin Surges Past $72,000 as Inflation Holds Steady

The Bitcoin price climbed back above $72,000 on Friday morning after CPI data came in line with expectations. The consumer price index (CPI) rose a seasonally adjusted 0.9% for the month, bringing the annual inflation rate to 3.3%. This figure matched Dow Jones estimates and marked the highest level since April 2024.

The increase was driven by higher energy costs, which jumped 10.9% in a single month. Both figures were within expectations. The rise in Bitcoin's price was accompanied by a shift in retail sentiment to 'bullish' from 'neutral', with accompanying chatter at 'normal' levels.

Ethereum and Solana outperformed Bitcoin among major cryptocurrencies, with Solana's price rising 2.6% to over $84 and Ethereum climbing back above $2,200 after a 2% gain. Both altcoins saw retail chatter at high levels.