News
Bitcoin Selloff as U.S. Inflation Above Forecasts
Bitcoin experienced a selloff below $81,000 on Thursday, following a U.S. inflation report that came in hotter than expected. The selloff was exacerbated by a decline in AI stocks, which added to pressure on bitcoin. Core inflation rose to 2.6% against a forecast of 2.5%, potentially increasing the likelihood of another Federal Reserve rate hike. Bitcoin's price dropped 2.6% over 24 hours, trading under $81,000. Other cryptocurrencies such as ZEC and Ether also saw losses, with ZEC down 11% and Ether down 5%.