CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

BTC, ETH surge to new records on US 30-year high inflation data

By Daniela Ešnerová

16:32, 10 November 2021

Bitcoin coins
Bitcoin surged – Photo: Shutterstock

Bitcoin and ether surged to new records after the US posted 30-year high inflation data. 

The big jump in bitcoin's price happened right after the release of latest American inflation data at 8:30 am EST, reaching the new record high at 9:24 am. 

The biggest cryptocurrency reached as high as $68,611.18 (£50,956.96), according to CoinMarketCap.com, while the CoinGecko.com website shows the digital coin reached $69,044.77 for the first time ever.

Chart: Bitcoin and ether surge as US inflation hits 30-year high

Chart representing bitcoin and ether surge.Bitcoin, ether surge following the release of latest U.S. inflation data. – Credit: TradingView

Bitcoin was followed by ether, which broke a record of its own. The second biggest cryptocurrency by market capitalisation climbed to $4,859.50, according to CoinMarketCap, or $4,878.26, according to CoinGecko's count.

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading