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Bitcoin drops $4.3K as CPI data comes in hotter than expected

March 12, 2024


Bitcoin witnessed a 2.3% drop after Wall Street opened on March 12, as markets reacted to stubbornly high inflation in the United States and its implications for interest rate cuts in 2024.

Inflation still high following hot CPI data

Data from Cointelegraph Markets Pro and TradingView shows BTC dropped as much as 6% after setting a higher all-time high at $73,054 on March 12, bottoming at $68,636 on Bitstamp.

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