Bitcoin fluctuates around $79k as markets digest high US inflation data

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Bitcoin fluctuates around $79k as markets digest high US inflation data

⚡ Markets: The confirmation of a likely Fed rate hike strengthens the US dollar and raises yields, increasing the opportunity cost of holding non-yielding assets like Bitcoin. Continued macro pressure could weigh on crypto prices.BTCETH

Bitcoin's price saw volatility, initially spiking towards $80,000 before pulling back, as cryptocurrency markets reacted to US CPI data. The inflation numbers reinforced expectations of a Fed rate hike, which typically creates headwinds for risk assets like Bitcoin, though the market showed some resilience.

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9 sources across the spectrum

Financial pressCointelegraph — Bitcoin spikes toward $80K as US CPI data delivers new 22-year high in bond yields

Financial pressDecrypt — Bitcoin Rises as Markets Digest Inflation Data Ahead of Fed Rate Decision

Google Non-WestGoogle News (Nigeria) — Bitcoin Reclaims $79,000 as CPI Data Keeps Fed Hike in Play

Financial pressDecrypt — Bitcoin Golden Cross Flickers Off as Rate-Hike Bets Firm Up

Financial pressThe Block — Bitcoin, ether rise as inflation data does little to alter Fed interest rate outlook

Financial pressCoinDesk — Rising yields, oil prices leave bitcoin vulnerable ahead of U.S. inflation report

Financial pressCoinDesk — Live updates: Bitcoin gives up early gains, with markets moving to price in multiple rate hikes

Financial pressCoinDesk — Bitcoin recovers toward $77,300 as zcash leverage unwinds

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