Bitcoin and altcoins experienced significant selling pressure, dropping more than 1% shortly after the release of the US Consumer Price Index (CPI) for August. The CPI showed a year-over-year surge of 2.5%, down from the previous 2.9%, which was in line with market expectations.
Despite this alignement with expectations, the cryptocurrency market responded negatively. This downturn surfaces amid ongoing speculation about potential interest rate cuts from the Federal Reserve, adding another layer of uncertainty to the market atmosphere.
Investors remain cautious as they await further economic signals and policy decisions that could impact the crypto market. The overall market sentiment appears to be apprehensive, reflecting concerns over future financial policies and their effects on asset prices.
Source: www.thecoinrepublic.com ↗
