BTC Climbs to $114K Ahead of Key CPI Report

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MNT is today’s top performed as it charted a new all-time high.

Bitcoin’s price jumped by a few grand yesterday and has maintained around $114,000 ahead of the highly anticipated US CPI data, which will be announced later today.

Most larger-cap altcoins are in the green as well, with DOGE and XLM surging by up to 3%. AVAX has risen by over 6%.

BTC Rises Before US CPI Data
The primary cryptocurrency tried to take down the crucial $113,000 support on a couple of occasions in the past week, but each attempt was met with an immediate rejection. The subsequent decline drove it south by a few grand, as it happened on September 6 and September 10.

The bulls initiated another leg up in the past 24 hours that also saw BTC challenge that level. This time, though, the asset was a lot more successful as it finally breached that level. Moreover, it kept climbing and tapped a 17-day peak of $114,500 earlier this morning.

Although it has retraced slightly since then, it still trades around $114,000. More volatility is expected later today when the US CPI numbers are set to be announced. The past few such occasions led to immediate price declines before bitcoin managed to recover the lost ground.

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