Bitcoin Price Volatility: CPI, Inflation, and Whales' Response
TL;DR
Bitcoin and major altcoins are trading weak ahead of the U.S. CPI release, with Bitcoin falling below $69,000 and experiencing a 2.5% drop. Ether, Solana, Cardano, and Dogecoin also saw losses, while BNB Chain was the only token in the green. Analysts warn of potential volatility following the U.S. consumer price index release, but some believe that the bitcoin correction may be over as selling pressure from long-term wallets cools down and demand for spot bitcoin increases.
- Bitcoin Falls Below $69K Ahead of U.S. CPI; Cardano, Dogecoin Lead Losses in Altcoins CoinDesk
- Bitcoin Rebounds to $70K, Shrugging Off Hot U.S. Inflation Print CoinDesk
- Bitcoin whales 'buy the dip' post-CPI as BTC price gains 3.6% Cointelegraph
- Bitcoin swings after hot inflation data pushes rate cut expectations to September CNBC
- Bitcoin price dips below $68k on hotter CPI, China enters BTC ETF market via Hong Kong Kitco NEWS
Want the full story? Read the original reporting
Read on CoinDesk