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Bitcoin Cash <\/strong>BCH\/USD<\/span>, Ethereum Classic\u00a0<\/strong>ETC\/USD<\/span>, Litecoin<\/strong> LTC\/USD<\/span>, Polygon<\/strong> MATIC\/USD<\/span>, Shiba Inu<\/strong> SHIB\/USD<\/span> and Solana<\/strong> SOL\/USD<\/span>\u00a0all spiked higher on heavy volume during U.S. pre-market trading and are trading around session highs Thursday afternoon. Several cryptocurrencies are\u00a0trading higher in sympathy with major U.S. indices following key U.S. economic data<\/a>, which showed a slowdown in inflation and a rise in jobless claims. This has alleviated some concerns of high inflation and a tight labor market.<\/p>\n Crypto otherwise saw\u00a0marked volatility during Wednesday’s session\u00a0following a CoinDesk report suggesting Binance is\u00a0scrapping<\/a>\u00a0the FTX acquisition.\u00a0Our Benzinga team on Wednesday reported that, after less than a day of assessing the company, cryptocurrency exchange Binance is reportedly \u201cvery unlikely\u201d to proceed with its\u00a0proposed acquisition of struggling rival FTX.<\/p>\n What Happened With CPI Data?<\/strong><\/p>\n The headline CPI rose 7.7% in October, down\u00a0from 8.2% in September, according to\u00a0data<\/a>\u00a0from the U.S. Bureau of Labor Statistics.<\/p>\n The October\u00a0CPI reading came in below average economist estimates of 8%.<\/p>\n Thursday’s highly anticipated CPI inflation reading comes a week\u00a0after the Federal Reserve raised its benchmark rate\u00a0by 0.75% for the fourth\u00a0straight time\u00a0in a continued fight against historically high\u00a0inflation…Read More<\/a><\/em><\/p>\n