Bitcoin Sinks Toward $80,000 After Hot CPI. Will Whales Keep What They Added?
BTC when published $80,786Now $80,577 ▼ −0.26% since it was published
A hotter-than-expected US inflation report knocked Bitcoin (BTC) down 3.3% in 24 hours to $80,979. The drop pushed the price under what US spot exchange-traded funds (ETFs) paid, on average, for their coins. Whales had spent the weeks before the report building their balances to levels not seen in nearly a year. With prices now under pressure, will they keep the coins they added or start handing them back? Hot Inflation Pushes Bitcoin Under the ETF Cost Basis Annual US inflation climbed to 3.7% in September, beating the 3.6% forecast. Core inflation rose to 2.6% against an expected 2.5%. Bitcoin dipped within minutes of the release and kept sliding. Leveraged traders took heavy losses too, with crypto liquidations nearing $1 billion in the 24 hours to early Thursday.
First reported by BeInCrypto. This page is a short excerpt; the full text is theirs.
