The latest price of Bitcoin has crossed $90,000 and is currently at $90,300 according to the latest information from Coinmarketcap. The price of Bitcoin, along with other cryptocurrencies, has been on the rise recently, with a key factor being the outcome of the US presidential election where Donald Trump emerged victorious. One of Trump’s policies is to support cryptocurrencies.
A significant figure that could impact the price of Bitcoin today is the Consumer Price Index (CPI) of the United States, which measures inflation and has increased by 2.6% from the previous year. This is up from 2.4% in September, which could potentially lead the Federal Reserve to lower interest rates again, benefiting other assets including cryptocurrencies.
Source: CoinDesk
TLDR: Bitcoin price hits $90,300 after crossing $90,000 mark, influenced by US election outcome and CPI increase, potentially leading to Fed interest rate cut.
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