Key Highlights
- Bitcoin briefly hit a record high of $93,469.08** before stabilizing at **$91,201.09 (up 1%).
- October’s CPI data showed a 0.2% monthly inflation rise, aligning with forecasts (12-month rate: 2.6%).
- Crypto market saw profit-taking: Ether (-3%), XRP (-4%), while Dogecoin (+2%) continued its post-election surge.
Market Dynamics
1. Bitcoin’s Rally Drivers
- Post-Election Momentum: Investors view Bitcoin as a hedge against potential inflationary fiscal policies.
- Inflation Data Impact: Traders analyzed CPI figures to gauge future Federal Reserve actions.
👉 Discover how Bitcoin’s volatility compares to traditional assets
2. Altcoin Performance
- Ether and XRP: Declined due to profit-taking.
- Dogecoin: Gained traction from Elon Musk’s role in Trump’s administration (e.g., the proposed "DOGE" department).
Investor Sentiment
Institutional Insights
- Tom Lee (Fundstrat): Predicts Bitcoin could reach $100,000 by year-end.
- Piper Sandler: Advocates buying crypto stocks anticipating mainstream adoption under Trump’s policies.
Miner Stocks Dip
- Double-Digit Losses: MARA, RIOT, CLSK, and IREN fell as Bitcoin’s rally paused.
FAQs
Q: Why did Bitcoin surge past $93,000?
A: The combination of post-election optimism and CPI data reinforced its hedge appeal.
Q: Which altcoins outperformed?
A: Dogecoin (+2%) benefited from political news, while others corrected.
👉 Learn how to diversify your crypto portfolio
Q: What’s next for Bitcoin?
A: Analysts eye $100,000 if macro conditions remain favorable.
Conclusion
Bitcoin’s milestone reflects its growing role in global finance. Watch CPI trends and policy shifts for future momentum.
Note: This article avoids political speculation or promotional content per guidelines.
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