Bitcoin price drops to $60,919.2 as investors await U.S. inflation data, impacting broader crypto markets.

From Investing.com
October 10, 2024 01:01 AM:

Bitcoin’s price drops as investors await key U.S. inflation data for interest rate cues, falling 2.3% to $60,919.2. Resilience in the U.S. dollar adds to pressure on Bitcoin amid uncertainty over future interest rate cuts by the Federal Reserve. Speculation over a potential $4 billion government sale of seized Bitcoin also weighs on the market.

Broader crypto markets decline in line with Bitcoin, with Ethereum dropping 2.1% to $2,395.41. Other altcoins like Binance Coin, Solana, and Cardano fall between 1% and 3%, while Dogecoin loses 0.3%. Meme token Shiba Inu sheds 0.3% in response to the overall market downturn.

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