Business · Markets · 1 hr ago
Bitcoin falls to $73,615 as US rate-hike fears weigh on markets
Bitcoin was trading at $73,615.5, down 2% over the previous 24 hours.
The price was also 5.39% lower than a week earlier.
The decline came as US consumer inflation exceeded market expectations.
Higher-than-expected inflation can increase concern that the US may raise interest rates.
Those concerns weakened investor sentiment toward cryptocurrencies.
The figures describe the market at the time of the update, and no further developments are specified.
Bitcoin fell to $73,615.5, down 2% over 24 hours, according to CoinMarketCap.
The price was 5.39% lower than a week earlier.
The report attributed the decline to concern about a possible US interest-rate increase.
That concern grew after US consumer-price inflation exceeded market expectations.
- Who
- Bitcoin.
- What
- It fell to $73,615.5, down 2% over 24 hours.
- When
- At 8:35 a.m. on Nov. 11, according to the article.
- Where
- CoinMarketCap, a global cryptocurrency market tracker, listed the price.
- Why
- US consumer-price inflation exceeded market expectations, increasing concern about a possible rate hike.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Bitcoin price
- $73,615.5
- 24-hour change
- Down 2%
- One-week change
- Down 5.39%
- Reported time
- 8:35 a.m. on Nov. 11