A stronger-than-anticipated inflation reading reminded investors that Bitcoin remains a highly volatile asset just hours after the digital currency soared to another record high.
The original cryptocurrency fell as much as 4.3% in the minutes after a government report showed US wholesale inflation accelerated in July by the most in three years. That sent stocks lower and tempered expectations for a reduction in interest rates, sending Bitcoin down from a high of $124,515 set late Wednesday in New York. The previous record was reached in July. Bloomberg’s Mike McGlone reports. (Source: Bloomberg)
The original cryptocurrency fell as much as 4.3% in the minutes after a government report showed US wholesale inflation accelerated in July by the most in three years. That sent stocks lower and tempered expectations for a reduction in interest rates, sending Bitcoin down from a high of $124,515 set late Wednesday in New York. The previous record was reached in July. Bloomberg’s Mike McGlone reports. (Source: Bloomberg)
Read More: Bitcoin Retreats From Record After Markets Get Volatility Jolt
