Bitcoin Falls Below $77,000, Then Recovers Toward $77,300 as CPI Data Lifts Fed Rate-Hike Odds
Updated — view changes (3)
· body · New information from a source
Bitcoin traded below $77,000 after the release of August consumer price data, as market participants increased bets on an imminent Federal Reserve rate hike to roughly 70% odds, according to CoinDesk.Zcash led cryptocurrency losses during the selloff.Bitcoin subsequently recovered toward $77,300 as leveraged positions in Zcash unwound.- Bitcoin fell below $77,000 as traders priced in a Fed rate hike, according to CoinDesk.
- Zcash led losses among major tokens during the decline, CoinDesk reported.
- Bitcoin later recovered toward $77,300 as leveraged Zcash positions unwound, according to a separate CoinDesk report.
- The moves coincided with the release of the August CPI report, which CoinDesk said sent bitcoin sinking to $77,000 with odds of a rate hike nearing 70%.
- MarketWatch reported that the August CPI print showed core inflation came in hotter than expected.
· summary · New information from a source
Bitcoin fell below $77,000 following a consumer price report, with traders pricing in a 70% probability of a Fed rate increase.- Bitcoin slid below $77,000 then recovered toward $77,300 after hot CPI data raised Fed rate-hike odds to near 70%, CoinDesk reports.
· headline · New information from a source
Bitcoin drops below $77,000 after CPI report as fed rate hike odds reach 70%- Bitcoin Falls Below $77,000, Then Recovers Toward $77,300 as CPI Data Lifts Fed Rate-Hike Odds
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
Bitcoin fell below Bitcoin below $77,000, Zcash leads losses as traders bet on a Fed rate hike.
as traders priced in a Fed rate hike, according to CoinDesk. Zcash led losses among major tokens during the decline, CoinDesk reported.
Bitcoin later recovered toward Bitcoin recovers toward $77,300 as zcash leverage unwinds.
as leveraged Zcash positions unwound, according to a separate CoinDesk report.
The moves coincided with the release of the August CPI report, which CoinDesk said sent bitcoin sinking to $77,000 with odds of a rate hike nearing Live updates: Bitcoin sinks to $77,000 as CPI lands with hike odds near 70%.
. MarketWatch reported that the August CPI print showed core inflation came in hotter than expected.
Sources: CoinDesk, MarketWatch
This article is for information only and is not financial advice.
What the market did
Each figure is this site’s own reading, with what it was measured against. A blank is a reading nobody took, not a zero. The before-the-headline window prints the rate a RANDOM hour clears the same bar, because a hit rate without its null is not a finding.
Story so far 2 updates
- flashBitcoin drops below $77,000 after CPI report as fed rate hike odds reach 70%first reported · 2 sourcescoindesk.com · marketwatch.com
- storyBitcoin Falls Below $77,000, Then Recovers Toward $77,300 as CPI Data Lifts Fed Rate-Hike Oddsupdate · 2 sourcescoindesk.com · marketwatch.com
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