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Crypto Market Slips as Hotter-Than-Expected inflation data that exceeded economist forecasts, placing downward pressure on risk assets as investors reconsidered the Federal Reserve’s upcoming interest rate strategy.
Bitcoin (CRYPTO: $BTC) declined 1.80% to $82,000, while Ethereum (CRYPTO: $ETH) saw a 2.8% decrease to approximately $2,440. Solana (CRYPTO: $SOL) dropped 2.77%, and XRP (CRYPTO: $XRP) fell 2.57%. Overall, the total market capitalization for cryptocurrencies dipped 2.18% to $2.74 trillion.
The Consumer Price Index climbed 0.6% in <a s ability to loosen monetary policy. He added that rising Treasury yields and a strengthening dollar could continue to burden Bitcoin and other risk-sensitive assets.
“That does not automatically make this a bearish signal for Bitcoin. Much of the headline increase came from gasoline, and core inflation held at August’s monthly pace,” Levin said in a note shared with Cryptoprowl.
