US Inflation Rate Surges to 6.8% in November, a 4-Decade High; Bitcoin Jumps

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After the discharge of the October CPI information, bitcoin shot up by nearly $3,000 to shortly print a new all-time excessive of $68,950. But inside a few hours, the transfer reversed utterly, and costs fell as extra merchants shifted to give attention to the logical consequence of quicker inflation: monetary-policy tightening by the Federal Reserve which may crimp demand for riskier property from shares to cryptocurrencies.