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Bitcoin's surge above $90,000 has left investors wondering if it still has room to run.

After the data, which showed producer prices excluding food and energy rose 3.1% in the 12 months through October, traders priced in about a 75% chance of a quarter-point interest-rate cut in December, versus more than 80% before the data.

Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday's report from the Labor Department showed that its producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain the month before. Compared with a year earlier, wholesale prices were up 2.4%, accelerating from a year-over-year gain of 1.9% in September.

The number of Americans filing new applications for unemployment benefits fell last week, suggesting the labor market continued to chug along and that the abrupt slowdown in job growth in October was an aberration. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 217,000 for the week ended Nov. 9, the Labor Department said on Thursday. Claims surged in early October amid distortions from Hurricanes Helene and Milton as a well as a strike by factory workers at Boeing, but layoffs have remained historically low, which is underpinning the economy.

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Chainlink will provide crucial pricing data and cross-chain interoperability infrastructure for the nascent DeFi platform.