Bitcoin and Ethereum crash shortly after release of inflation data – Washington City Paper | Jewelry Dukan

After a great run for Bitcoin over the past week, the price plummeted 9.3% shortly after the August inflation data was released.

BTC is currently priced at $20,316, having previously traded at $22,400 – the asset’s one-month high.

Apparently the biggest catalyst for this sudden decline is the release of the US CPI (Consumer Price Index) for August.

The data showed that inflation rose much more than expected, which investors took as a sign that the Federal Reserve will continue to tighten financial conditions. This will very likely affect trading of digital assets.

Ethereum was also impacted by the CPI report, posting a 6.6% drop, taking the price down to $1,606.

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