The cryptocurrency market has seen better days. Bitcoin’s price hovered at the ,000 range for a few days, but it appears that the bears were finally able to take full control. Just a few moments ago, BTC dropped below ,000, reaching a local low of ,867. Source: TradingViewThe move has resulted in the liquidation of more than 0 million in leveraged positions, the majority of which, of course, is long. As CryptoPotato reported earlier today, Bitcoin’s price reacted negatively to the announcement of higher-than-expected CPI numbers. The Consumer Price Index is a gauge for inflation in the United States. An increase essentially means that the Federal Reserve might not cut rates again in November, which is bad news for risk-on assets such as Bitcoin. You Might
Topics:
George Georgiev considers the following as important: AA News, Bitcoin (BTC) Price, BTCEUR, BTCGBP, btcusd, btcusdt
This could be interesting, too:
Wayne Jones writes Trump’s World Liberty Financial Submits Proposal to Ethereum DeFi Protocol Aave
Dimitar Dzhondzhorov writes 3 Reasons Why Bitcoin (BTC) Could Bounce This Month: Details
Chayanika Deka writes Ripple Launches New Features for Custody Arm to Tap T Market
Mandy Williams writes These Are the Top Trending Cryptocurrencies by Social Media Mention Frequency (Santiment)
The cryptocurrency market has seen better days.
Bitcoin’s price hovered at the $62,000 range for a few days, but it appears that the bears were finally able to take full control.
Just a few moments ago, BTC dropped below $59,000, reaching a local low of $58,867.
The move has resulted in the liquidation of more than $250 million in leveraged positions, the majority of which, of course, is long.
As CryptoPotato reported earlier today, Bitcoin’s price reacted negatively to the announcement of higher-than-expected CPI numbers. The Consumer Price Index is a gauge for inflation in the United States. An increase essentially means that the Federal Reserve might not cut rates again in November, which is bad news for risk-on assets such as Bitcoin.