Bitcoin has changed direction after weeks of Ethereum gaining 8% and Solana soaring 9%. “Bitcoin is up today because both yesterday's producer price index and today's consumer price index were relatively moderate,

On Wednesday, the price of bitcoin continued rising, surging to over $99,000 as it looked poised to return to the $100,000 mark, driven by new inflation data. Minutes after the U.S. Bureau of Labor Statistics unveiled new data from the Consumer Price Index, bitcoin’s price jumped by $1,500, representing a 2% price improvement for the day.

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Bitcoin-Nasdaq correlation reached its highest level in two years, as the release of US inflation data bolstered digital asset performance. Bitcoin and US tech stocks now have a 30-day correlation coefficient of 0.