Why is Bitcoin price up today? By Cointelegraph

[ad_1]

© Reuters.

price is up on Jan. 12, and a swift market-wide rally in crypto prices has some investors hopeful that the year-to-date high at $18,898 is a sign that BTC has bottomed.

After a continuation of last week’s rally in equities markets, a cooling (DXY) and positive inflation data in the Consumer Price Index Report (CPI) can keep BTC in the higher end of the $18,000 range.

Daily cryptocurrency market performance. Source: Coin360
CPI Report. Source: Bureau of Labor Statistics
Cast your vote now!
Interest rates may fall. Source: CME Group (NASDAQ:)
U.S. dollar index. Source: TradingView
Bitcoin, Dow Jones, Nasdaq and S&P 500. Source: TradingView