BTC’s price showed little-to-no volatility after the news went out.
1. BTC Price Stability: Bitcoin's price remained remarkably stable in response to recent events, displaying minimal volatility.
2. CPI Data Release: On December 12th, the United States unveiled its Consumer Price Index (CPI) data for November, revealing a slight increase in comparison to the same period the previous year.
3. Accurate Analyst Predictions: The majority of US analysts had anticipated a 3.1% year-over-year increase in the November CPI, and these predictions were validated by the actual government data. Similarly, the core CPI, excluding volatile sectors like food and energy, was accurately projected at 4%.
4. Comparison to October: The November CPI figures closely mirrored those of October, with the primary difference being a 3.2% CPI reading for the previous month.
5. Changing BTC Price Reaction: While Bitcoin used to react with heightened volatility to CPI data releases earlier in the year, this pattern has shifted recently. Bitcoin's price remained resilient, hovering consistently just below the $42,000 mark throughout the day, indicating a notable change in its response to CPI releases.
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