Bitcoin takes a hit as market reacts to key inflation indicator

Bitcoin takes a hit as market reacts to key inflation indicator - Shahpur Turk CSC - Common Service Centre in Sonipat Bitcoin takes a hit as market reacts to key inflation indicator

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28 February 2023

Bitcoin takes a hit as market reacts to key inflation indicator

Bitcoin and other digital assets plunged on Friday following the release of key inflation data that spooked investors. The leading cryptocurrency fell by 3% in just 24 hours, currently trading at $23,070, according to CoinGecko. This comes after Bitcoin broke above $25,000 per coin for the first time in eight months just last week. Other major cryptocurrencies also saw significant drops, with Ethereum falling by 3.1% in the past day to trade at $1,593, and Dogecoin dropping 3.3% to reach $0.082.

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