Bitcoin Parries Full-Blown CPI Onslaught, Recovers Above $19,000 Level

Bitcoin bucked its shaky initial reaction to the latest Consumer Price Index (CPI) report released on Thursday, rebounding right away after an expected price decline. Bitcoin nears $20K mark after the CPI report was released Inflation in U.S. is at 8.

Timeline of Bitcoin

On Wednesday (October 12), Bank of Canada (which is Canada's central bank), highlighted five findings from a report that studied “the dynamics of Bitcoin awareness and ownership from 2016 to 2021” using its Bitcoin Omnibus Surveys (BTCOS).

Bitcoin price tanked to $18.3k after the CPI data for September comes in higher than expected at 8.2%. However, the BTC price recovered hours after the CPI release, continuing gains on Friday.

Private and publicly-listed bitcoin miners can now apply for loans with Binance as the crypto exchange launched a $500 million fund to cope with the ongoing downturn of the crypto-market conditions.

While It looked like it was set for a bad day after yesterday's dip to US$18,500, we've ultimately seen an impressive 24-hour rally up to US$19,700 to finish the week relatively even. Bitcoin enjoys a pump, yet stays below key US$20,000 point – Source: currency.com Ethereum has also jumped over 3% today, bringing the coin back above the critical US$1,300 price barrier.

The total cryptocurrency market cap saw net inflows totaling $30.49 billion. The post CryptoSlate Daily wMarket Update – Oct 13: BTC, ETH rebound following US CPI data release appeared first on CryptoSlate.

Surprisingly, the crypto market has stepped into the bullish zone after the first born cryptocurrency, Bitcoin reclaimed its $19,000 level. It was just yesterday that the King currency plunged below its crucial range of $19k pulling back altcoins as well.

Binance Pool will grant $500 million in loans to support the bitcoin mining industry and will launch cloud mining products. The post Binance Announces $500M BTC Mining Initiative As Difficulty Metric Cranks Higher appeared first on BeInCrypto.

A whale is transferring Bitcoin (BTC) worth tens of millions of dollars amid a downturn in the choppy crypto markets. According to whale watcher Whale Alert, the large Bitcoin holder transferred 12,970 BTC worth slightly over $248 million at time of sending from an unknown wallet to another unknown wallet.

Binance has launched a $500 million fund to provide loans to Bitcoin miners struggling to cope with difficult crypto-market conditions. The post Binance launches $500 million fund to provide loans to Bitcoin miners appeared first on The Block.

Crypto Price Today Oct 14 Latest Updates: The crypto market continues a market-wide recovery on Friday, with crypto prices including Bitcoin and Ethereum rising almost 4%. The crypto market rebounds in correlation to the U.S. stock market, with S&P 500, Dow Jones, and Nasdaq rising over 2.50%.