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BTC price suddenly drops 5% as Bitcoin rejects low CPI print

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BTC price suddenly drops 5% as Bitcoin rejects low CPI print
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BTC price suddenly drops 5% as Bitcoin rejects low CPI print

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Source: Coin Telegraph

Bitcoin shrugs off notionally good news on US inflation with a BTC price plunge below $59,000.

Bitcoin (BTC) delivered classic “fakeout” moves around the Aug. 14 Wall Street open as bulls lost out on United States macro data.

Data from Cointelegraph Markets Pro and TradingView showed BTC price action spiking to near $62,000 on the back of the latest Consumer Price Index (CPI) print.

Coming in below expectations, the result was slated to boost risk assets and crypto, but Bitcoin’s reaction was short-lived.

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Author: William Suberg

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