Bitcoin fell below $81,500 on Thursday as hotter-than-expected U.S. inflation revived bets on further Federal Reserve rate hikes. Bitcoin traded at $81,360, down 2.46%, while Ethereum fell 5.22% to $2,374.
Why it matters
The inflation surprise has shifted attention back to the risk of tighter monetary policy. Expectations for higher rates can weigh on risk assets, including cryptocurrencies, as investors reassess financial conditions.
Market impact
The reported crypto market capitalization stood at $2.81 trillion, with Bitcoin dominance at 58.1%. The Fear & Greed Index was 53, indicating Greed, while the Altcoin Index registered 57 out of 100. Those readings offer a mixed picture alongside the declines in Bitcoin and Ethereum.
Source: [source](https://webappcsdfedsssd.controller.bot/media/files/8336652911/AgACAgIAAxkBAAJV-WrQiVp3KjIcaXBFEzykGoAzz7PzAAITHmsbeSyISmg3ZdKY_XHoAQADAgADeQADPQQ?sig=X4jsFVpbN9L55a1buKm7Yd9RmfjUkaUJPi8Msy2EVs4)
Frequently asked questions
-
What triggered Bitcoin's drop below $81,500?
Hotter-than-expected U.S. inflation revived bets on further Federal Reserve rate hikes, as Bitcoin fell to $81,360.
-
How did Ethereum perform compared with Bitcoin?
Ethereum fell 5.22% to $2,374, while Bitcoin declined 2.46% to $81,360.
-
What was the reported crypto market capitalization?
The market capitalization stood at $2.81 trillion.
-
What did the market sentiment indicators show?
The Fear & Greed Index registered 53, indicating Greed, and the Altcoin Index was 57 out of 100.
-
What was Bitcoin's share of the crypto market?
Bitcoin dominance was reported at 58.1%.
WuBlockchain
Altcoin Daily
Crypto News
CoinDesk
WatcherGuru
TheBlock