On Wednesday, the price of bitcoin continued rising, surging to over $99,000 as it looked poised to return to the $100,000 mark, driven by new inflation data. Minutes after the U.S. Bureau of Labor Statistics unveiled new data from the Consumer Price Index, bitcoin’s price jumped by $1,500, representing a 2% price improvement for the day.

Bitcoin was rising marginally but remained below $100,000 following a retracement from last month's record high. "Discretion may be the better part of valour in digital assets over the next week or so,

Bitcoin topped $100,000 on Wednesday, showing renewed strength ahead of President-elect Donald Trump's return to the White House.

Bitcoin extended its rally for the third consecutive session, hovering near the pivotal $100,000 mark, driven by optimism following softer U.S. inflation data. By 01:12 ET (06:12 GMT), Bitcoin rose 2.

Bitcoin has surged back to almost $100,000 as key inflation reports show a slowdown, and the stock market is rebounding. The top cryptocurrency is trading at $99,442, representing an increase of 3.5% on Wednesday.