Reported 1 day ago
Bitcoin dropped over 3% from its peak following an unexpected rise in inflation, affecting rate cut expectations. Treasury Secretary Scott Bessent noted the U.S. won't buy bitcoin for its strategic reserve, which currently holds around $15-20 billion. This news, combined with a high Producer Price Index, led to a pullback from bitcoin's all-time high. Meanwhile, Ethereum also declined over 3%, despite ongoing bullish sentiment in the crypto market.
Source: YAHOO