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Bitcoin Creates a new ATH of $69K
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blockchain.newsThe price of Bitcoin once again hit a new high of $69,000 at UTC time following Ether hitting $4,868 earlier today.
The US Bureau of Labor released data on inflation earlier in the morning which showed that the core inflation rate was the highest in 30 years.
The inflation data supported the argument that cryptocurrency is a hedge against rising cost pressures. Bitcoin and Ethereum both hit new highs.
Although the bulls did not hold on to the new high for a long time, after a brief impact on the high, traders began to take profits and the shorts occupied the market.
At the time of writing, according to Coinmarketcap, bitcoin dropped by 3.84% in 24 hours and BTC was trading at around $64,505.85.
Judging from the daily candlestick chart,
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