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Inflation Deflates BTC

Bitcoin sinks below $50K as macro concerns take a toll.
Jack Inabinet Jack Inabinet Feb 13, 20241 min read
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market analysis Inflation Deflates BTC

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!

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Jack Inabinet

Written by Jack Inabinet

280 Articles View all      

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 apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business and remains based out of the Seattle area.

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