Bitcoin has surpassed the $91,000 mark.

The inflation data for the U.S. in October aligned perfectly with economists' expectations, leading to a rebound in the price of Bitcoin to around $90,000.

CoinDesk writes about this.

The Consumer Price Index (CPI) increased by 0.2% in October, matching the forecast of 0.2% and the 0.2% rise observed in September, according to a government report released on Wednesday morning. Year-over-year, the CPI rose by 2.6%, also in line with expectations, although it was up from 2.4% in September.

The core CPI, which excludes more volatile food and energy prices, increased by 0.3% in October, consistent with estimates and the previous month's figure. On a year-over-year basis, the core CPI stood at 3.3%, as anticipated, remaining steady from September.

The price of Bitcoin (BTC) surged to $89,500 following the release of this data. Over the past week, the cryptocurrency has gained nearly 30% in value. This is attributed to the Federal Reserve's interest rate cuts amidst a broader easing of monetary policy by Western central banks and the influence of Donald Trump's election victory, who is known to be pro-cryptocurrency.

Background. Previously, Mind reported that Bitcoin crossed the threshold of $89,000, setting a new historical high.