The price of bitcoin fell sharply after the release of the US inflation report. The price of the token dropped below $30,000, according to Coindesk data.
Source: Coindesk
After the fall, the cryptocurrency lost about 5% of its value, but recovered within a few minutes. At the moment, its price dropped to $29.1 thousand per unit, which was the lowest since July 2021. At the time of writing the news, the token almost completely won back the fall, returning to the level of $31.3 thousand.
Probably, the short-term drop was due to the publication of the US inflation report. According to the Financial Times, the figures fell short of analysts’ expectations. Experts predicted its decline from 8.5 to 8.1%, but the figure stopped at 8.3%.
A day earlier, CNBC, citing Glassnode, reported that due to the continued fall of bitcoin, 40% of cryptocurrency buyers went into the red. Their investment fell below the buy level. How many of them recorded losses is not specified.
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