Back to news
Markets
Bitcoin Drops Near $73,500 After Higher-Than-Expected CPI Data
(1 hour ago) · 1 source · Summarized by CryptoBipto
Bitcoin's price fell to around $73,500 following a Consumer Price Index (CPI) report that came in higher than expected. The inflation data increased market expectations that the U.S. Federal Reserve could raise interest rates, putting downward pressure on risk assets including cryptocurrencies.
WHY IT MATTERS
Think of the Federal Reserve as a thermostat for the economy.
Read the full analysis with a CryptoBipto membership
Members read why every story matters and the full analysis behind it.
SOURCES
- bitcoinmagazine.com
RELATED
BTCBitcoin PriceInflationFederal ReserveCPIMonetary Policy