Bitcoin surpassed $18,000 on Thursday after reaching the threshold for the 10th time in 12 days the previous day.

Bitcoin has recently surpassed the $18,000 threshold, raising questions about the sustainability of the rally.

The market is closely watching the release of the Consumer Price Index by the US government on Thursday, as it may indicate a decline in inflation and potentially lead to a slowdown in monetary tightening by the Federal Reserve.

Some investors remain cautious and are waiting for the inflation report to gauge the potential impact on risk appetite, which could determine whether bitcoin continues to rise towards $18,500 or declines back to the December low.