Crypto volatility spikes as Bitcoin price whipsaws, only to return to support at $27,900

- Volatility remains the name of the game in the cryptocurrency market, as Wednesday saw the price of Bitcoin pump and dump following the latest Consumer Price Index release, leaving the top crypto relatively unchanged on the 24-hour chart.

Data provided by TradingView shows that the price of Bitcoin briefly spiked to a high of $28,405 following the CPI data release, only to sharply reverse course in the afternoon, plunging to a daily low of $26,885 before being bid back above $27,700 where it has traded since Monday’s close.

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