Bitcoin (BTC) surged $1,000 in five minutes before the Nov. 10 Wall Street open as United States inflation and jobs data boosted risk assets.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCPI comes in lowest since the start of 2022
The pair was just hours from a more-than-two-year low below $15,700 at the time, taking its 24-hour low-to-high to 12.8%.
At the time of writing, BTC/USD circled $17,400 with volatility still rampant as U.S. markets opened to digest economic data.
This had come in the form of the Consumer Price Index (CPI) print for October, along with jobless claims.
Both offered a positive surprise, CPI coming in below expectations and jobless claims above, both implying