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After several months of positive US CPI data, the numbers for June are concerning, with some experts blaming Trump’s tariffs against multiple nations. The Consumer Price Index for the previous month rose by 2.7% year-over-year, slightly above expectations of 2.6%. The Core CPI, which excludes more volatile sectors like food and energy, matched the expected numbers of 2.9%. The month-over-month CPI increase was also in line with expectations at +0.3%. However, some reports suggest that previous months benefited from falling gas prices and disinflation in the housing sector. The landscape has since changed, with the tariffs imposed by US President Donald Trump now taking effect. Bitcoin’s price reacted immediately when the data from the US Bureau of Labor Statistics went live, dropping from over $117,000 to $116,400 before rebounding to its starting position. The asset has dropped by six grand since yesterday, but it’s up by over $10,000 since last Wednesday. It recorded a new all-time high yesterday of over $123,000. BTCUSD. Source: TradingView
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About The Author
Jordan Lyanchev
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Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato’s Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn
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The cryptocurrency market has been on a wild ride over the past few months, with Bitcoin and other altcoins seeing massive gains. However, the market took a sharp downturn this week, with …
Bitcoin dropping from its all-time high of over $64,000 to below $50,000. The drop was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading at around $55,000. However, the recent volatility has raised concerns about the sustainability of the current bull run. Some experts believe that the market is due for a correction, while others remain bullish on the long-term prospects of Bitcoin and other cryptocurrencies. In this article, we’ll take a closer look at the recent market downturn and what it could mean for the future of the cryptocurrency market. The recent market downturn was triggered by a combination of factors, including rumors of a potential ban on crypto in India and a power outage in China that caused a significant drop in Bitcoin’s hash rate. The market has since recovered slightly, with Bitcoin currently trading
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