Bitcoin Price Soars Past $24K to Reach 2-Week High

Lucas Outumuro, head of research at blockchain analytics firm IntoTheBlock, said that investors also found reason for optimism in Tuesday’s tepid U.S. Consumer Price Index (CPI), which showed inflation declining slightly to 6.4% on an annual basis even as it failed to meet analysts expectations. “Since the market reaction to the CPI print was positive even if it was higher than expected, I believe this was seen as a sign of strength for the rally to continue in risk assets altogether,” Outumuro told CoinDesk.