One day after surging to set a new cycle high above $50k, Bitcoin is getting hammered lower, declining by 2.5% on the day. What is causing markets to tank?
It wasn’t just Bitcoin that took a dive this morning; broader risk markets woke up on the wrong side of the bed, with the S&P 500 opening 1.3% off its yesterday close, a move lower can all be traced back to the release of January inflation data!
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
Bitcoin is getting hammered lower, declining by 2.5% on the day. What is causing markets to tank?
