Bitcoin hit a new all-time high of $69,000 on the Bitstamp exchange at 2:15 p.m., extending its bullish streak after the Labor Department reported the biggest inflation jump in more than 30 years.
The consumer price index has soared to a higher-than-expected 6.2%.
The flagship cryptocurrency has so far failed to smash through the aforementioned level, retracing back to the low-$68,000 range after facing massive resistance.
With stocks opening in the red and Tesla shares dipping below the $1,000 level at market open, the ongoing market correction might throw a wrench in the works for bulls.
Bitcoin. Nice. pic.twitter.com/da5tPD1zBi— Morning Brew ☕️ (@MorningBrew) November 10, 2021
Bitcoin is up roughly 12% this November.