Bitcoin
and other cryptocurrencies were falling Thursday, in line with stocks, as they reacted to key inflation data. Bitcoin has remarkably lacked its famous volatility lately and how its reaction plays out will be a key test of this trend.
The price of Bitcoin has tumbled more than 4% over the past 24 hours to below $18,400, flirting with its yearly low and plunging outside of the $19,000 to $20,000 zone that has defined the largest crypto’s trading range since the start of September. Bitcoin accelerated losses after the release of the U.S. consumer-price index for September at 8:30 a.m. Eastern, having previously sat around 1% lower near $19,000.
