Why Is Bitcoin Dropping Today?
- On September 12, Bitcoin fell to $77,300 after August CPI data showed U.S. living costs 3.4% higher than last year, triggering immediate market repricing.
- Hot inflation data pushed Polymarket odds of a September 16 Federal Reserve rate hike to 83%, signaling traders expect the central bank to intervene.
- Four straight days of Bitcoin ETF outflows combined with long-term holders selling 539,000 Bitcoin into the $77,000 to $80,000 zone, creating supply pressure.
- Rising expectations for Federal Reserve action drove the two-year Treasury yield to 4.62% from 4.56%, increasing the cost of holding Bitcoin.
- A close below $76,500 opens a drop toward the $72,000 to $74,000 range, while options traders anticipate wider moves over the next 30 days.
42 Articles
42 Articles
Why Is Bitcoin Dropping Today?
The post Why Is Bitcoin Dropping Today? appeared first on 24/7 Wall St..Bitcoin (CRYPTO:BTC) trades near $77,400, down from $79,155 on September 9 and from an intraday peak of $82,000 on September 4, a fall of 2.2% and 5.6%, respectively. August CPI came in hot on September 11, and the rates market repriced the same day. Bitcoin is fighting three things at once: a repriced September 16 rate hike, a run of ETF redemptions, and holders selling int…
Bitcoin Climbs Past $79,000 as Traders Parse Sticky Inflation and Looming Fed Hike
Bitcoin surged past $78,000 Friday despite core CPI beating forecasts and Fed hike odds climbing above 80%. Markets parsed mixed inflation data amid rising oil prices and Treasury yields. The recovery highlights trader focus on post-hike signals rather than the move itself.
Bitcoin operates close to stability on Friday (11), in the US$77,000 region, even after US consumer inflation accelerates in August and maintains a high interest rate on the radar by the Federal Reserve (Fed) next week. At around 10.50 a.m., bitcoin advanced 0.1% in 24 hours, to US$77.866.76, according to CoinGecko. In Brazil, cryptocurrencies were traded at R$397.501.21, with a 0.12% discharge, according to the CoinTrader Monitor. Institutional…
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