Bitcoin (BTC) experienced significant volatility driven by U.S. Consumer Price Index (CPI) data and the Federal Open Market Committee (FOMC) meeting. Initially, BTC surged past $70,000 but was quickly pushed back down by bearish sentiment, hitting a low of $66,000. Better-than-expected CPI data led to a brief recovery, but the lack of an interest rate cut from the Fed caused another drop, stabilizing Bitcoin at $67,500. This rollercoaster ride highlights Bitcoin's sensitivity to macroeconomic factors.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
