Bitcoin rises above 56k after US inflation report

It was noted here earlier this morning; that Bitcoin would be better served if it started to behave like a proper asset class and pay more attention to the things that drive the developed markets. Well, as if by magic (unless it is just coincidence of course!) the lead cryptocurrency has jumped higher again this afternoon following the release of the latest US inflation data. The generally benign outcome of that data has helped to push the dollar lower and gold higher and also seeming had an impact on Bitcoin too. It has now risen above 56k and that was has accelerated at the same time. Granted it was already on the move higher before the dollar fell back and gold rose, but the move does correspond all the same. Bitcoin has risen to as high as 56,336 and it is not far off that high right now. The prospect of the lead coin making another attempt on the record high at 58,350 just got an extra boos now this afternoon. Bitcoin is currently trading at 56,195