CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
Seeking Alpha 2024-03-15 14:39:08

Bitcoin extends slide a day after another inflation report

Bitcoin ( BTC-USD ) extended its slide on Friday, a day after another hot inflation report fuelled speculation that the Federal Reserve will not be in a rush to slash interest rates. The world's largest digital currency fell 6.91% to $67.9K as at 10:19 am ET, a day after the inflation report pushed BTC below the $70K mark. On Thursday, the producer price index for February came in hotter than forecast, while another data showed jobless benefits were claimed in the past week by fewer people than economists had expected. Bitcoin's ( BTC-USD ) decline comes in a week that saw prices hitting record highs, boosted by inflows into exchange-traded funds investing directly in the cryptocurrency. Ether ( ETH-USD ), the second largest cryptocurrency also dropped 5.32% to $3.7K. Crypto-linked stocks which are typically affected by BTC prices, however, did not seem to be impacted much, with Marathon Digital ( MARA ) up 1.7% , CleanSpark ( CLSK ) up 5% , Coinbase ( COIN ) up 1.2% , Riot Platforms ( RIOT ) up 0.5% , but MicroStrategy ( MSTR ) was down 3% . More on Bitcoin USD Digital Currency And Gold As Speculative Warnings Bitcoin Rockets To All-Time High Ahead Of Halving Event: Will It Hit $100,000? Why Bitcoin Is Fundamentally Flawed Bitcoin piggy bank: El Salvador moves over 5K BTC to cold wallet Bitcoin slides to below $70K in wake of another hot inflation report

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.