Bitcoin Surges as Unexpected Drop in U.S. Inflation Boosts Market Sentiment

Bitcoin spiked higher as the June 12 Wall Street session opened, following an unexpected drop in United States inflation data. Cointelegraph Markets Pro and TradingView reported a quick BTC price surge to $69,636 on Bitstamp. Bitcoin jumped by $1,500 within seconds, driven by the May Consumer Price Index (CPI) report showing inflation cooling faster than anticipated. Month-on-month CPI remained unchanged, while the year-on-year figure was 3.3%, both 0.1% below expectations. “The all items index rose 3.3 percent for the 12 months ending May, a smaller increase than the 3.4-percent increase for the 12 months ending April. The all items less