Bitcoin up 5% as U.S. inflation cools in November

Bitcoin jumped more than 5% on Tuesday evening after the U.S. Bureau of Labor Statistics said that the consumer price index (CPI) was up 7.1% in November from a year earlier, less than the expected 7.3% and down from 7.7% in October.

Bitcoin (BTC) reacted positively to the news, gaining 5.5% to $18,000 – the highest value since Nov. Ethereum (ETH) also spiked 7.2% to $1,349. Major altcoins in the market all recorded a recovery of 4-6%.