Bitcoin surpasses $91,000 for the first time as investors react to inflation data

Bitcoin surpassed $91,000 for the first time on Wednesday, rising over 2% to $91,705. It briefly reached a record high of $92,066.16 as investors reacted to October's inflation data, which showed a 0.2% increase. The consumer price index indicated a 12-month inflation rate of 2.6%, aligning with expectations. Bitcoin's recent gains are attributed to a broader rally in risk assets following the election. Other cryptocurrencies also saw gains, with Ether and Solana up about 1%, and Dogecoin rising 8%. The surge in Dogecoin is linked to Tesla CEO Elon Musk's involvement in President-elect Donald Trump's campaign.