Bitcoin (BTC) delivered more surprises into Oct. 14 as the reaction to macro triggers saw a sudden run at $20,000.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewStocks, crypto smoke shorts
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to one-week highs, gaining almost $2,000 in hours.
After the United States Consumer Price Index (CPI) print for September came in above expectations, an initial crypto rout put bulls on edge, but the pain was short lived.
Bitcoin ultimately ran higher than its pre-CPI levels, following stocks which were described as delivering the "biggest bear trap of 2022."
"That’s gotta be the biggest bear trap I’ve seen so far," popular Twitter trading account Stockrocker reacted.