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Bitcoin price briefly hits $69K ATH before plummeting back to Earth
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Bitcoin price hit another all-time high at $69,000 as Ether continued its long slog toward $5,000 after reaching a new high at $4,868 earlier today. Shortly after hitting this fresh milestone, however, traders began taking profit, leading to a nearly-$7000 drop.
Interstingly, the breakout initiated right as a report from the U.S. Bureau of Labor Statistics showed a sharp 6.2% annual rise in the Consumer Price Index, a figure which is the highest in 30 years.
According to the BLS, rising energy costs fueled a rise in CPI but for at least 6 months, analysts have tracked the rising costs of food and other goods. The current CPI is the highest it has been since October 1990. Core inflation, a figure that ignores the impact of the rising cost of
Read more on cointelegraph.comAbout this in other media
Analysts pinpoint bull and bear scenarios as Bitcoin price dips below $56K cointelegraph.com /2 years ago
Bitcoin price seesaws beneath $60K as anticipation builds for fresh BTC 'short squeeze' cointelegraph.com /2 years ago
Bitcoin prices retreat for 4th day: What's cooking? economictimes.indiatimes.com /2 years ago
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