Bitcoin jumps to monthly high as U.S. inflation slows

Bitcoin
BTCUSD,
+3.49%
reached a monthly high on Tuesday as better-than-expected inflation data was released.

Bitcoin was trading at just over $17,500 on Tuesday morning, a price the digital asset has not hit since November 10 — other cryptocurrencies like ether
ETHUSD,
+3.93%,
dogecoin
DOGEUSD,
+2.27%,
Cardano
ADAUSD,
+2.01%
and Solana
SOLUSD,
+3.30%
also jumped on Tuesday amid signs that inflation is cooling.