BTC price dives nearly 4% on U.S. inflation worries with CPI data erasing Bitcoin trader optimism over a Fed rate cut.
The January CPI reading reduced expectations for interest-rate cuts in the next months, weighing on risk assets such as crypto.
The latest US inflation data had a significant impact on the Bitcoin price and most of the cryptocurrency market, with some exceptions.
Bitcoin price shocked the market on Monday, hitting the $50,000 milestone after two long years. · BTC could drop 5% into the supply zone turned bullish breaker ...
The price of bitcoin, or 1 BTC, traded at $49878.31, as of 8 a.m. ET.
Bitcoin Price Chart / Source: Adobe / LuisaThe Bitcoin (BTC) price has dipped back below $49000, a near $1500 turnaround from the two-year highs it hit.
Cryptocurrencies fell Tuesday amid a broader market sell-off following a hotter-than-expected CPI reading.