Bitcoin spikes to $92,500 as U.S. December consumer prices rise 0.3%

Core Insights - U.S. inflation data met expectations, leading to a brief surge in bitcoin prices above $92,000 [1][2] - The consumer price index (CPI) increased by 2.7% year over year in December, consistent with November's figures and economists' predictions [1] - Core CPI, excluding food and energy, rose by 2.6%, slightly below the forecast of 2.7% [1] Inflation Metrics - Month-over-month headline inflation was reported at 0.3%, aligning with consensus expectations [2] - Core inflation increased by 0.2% month-over-month [2] Market Reactions - Bitcoin experienced a price jump to $92,500 before settling at $91,830, reflecting a 1.1% increase over the past 24 hours [2] - U.S. stock index futures rose approximately 0.3% following the inflation report [2] - The U.S. 10-year Treasury yield decreased to 4.175% from over 4.19% prior to the data release [2] Federal Reserve Expectations - Market participants indicated a 95% probability that the Federal Reserve would maintain interest rates at its January meeting, according to the CME FedWatch tool [3]