Bitcoin Slides Toward 11-Week Low as US CPI Surprises Higher
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Cryptocurrency News | Cryptocurrency Prices | Market CapBitcoin Faces a Tougher Rate Outlook After US October Inflation Rises 0.4%
October US CPI rose 0.4% month on month and core CPI increased 0.3%. The hotter reading strengthened expectations of tighter monetary policy. For…
Bitcoin Falls as US Inflation Raises Fears of a Bigger Fed Rate Hike
US inflation data was released this Tuesday, prompting an immediate pullback in the crypto market. This uptick in price pressures instantly heightened expectations that the Fed will implement a new interest rate hike at its upcoming monetary policy meeting. Amid the storm, Bitcoin’s price dropped sharply, breaking through key levels and dragging down the rest ...
Crypto Breaking News
BITRSSBitcoin Slides Toward 11-Week Low as US CPI Surprises Higher
Bitcoin slid toward 11-week lows in early trading on Tuesday after the latest US inflation report landed above expectations, reviving concerns that the Federal Reserve may still need to keep policy restrictive into December. After dipping to about $73,518—nearly matching Bitcoin’s Sunday low—BTC later recovered to trade back above $74,000, as markets digested both the [...]
Bitcoin fell to its lowest level in 11 weeks after US October inflation figures came in higher than expected, leading to the liquidation of millions of dollars worth of positions in the cryptocurrency market within minutes. The data reinforced expectations that the US Federal Reserve (Fed) may raise interest rates more rapidly in December.
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