Bitcoin price threatens lowest weekly close since 2020 as inflation spooks markets
— Briefly took bitcoin, Day read, Rate hikes emergelooking ahead, Lower, Surprisingly high inflation data, Stemming price rises .“, Bitstamp, Trading, Showing confluence, Highest since december 1981 — 1 min read
Bitcoin (BTC) dropped to two-week lows on June 11 as the week’s Wall Street trading ended with bears in control. The pair had fallen in step with stock markets on June 10, these finishing the week noticeably down. This was on the back of surprisingly high inflation data from the U.S. which took a turn for the worst in stark contrast to expectations. The Federal Reserve's FOMC minutes, due for the meeting on June 14-15, will provide clues on how aggressive policymakers plan to be when it comes to stemming price rises. If it were to end the week at current levels or any below $29,450, meanwhile, it would be threatening its lowest weekly close since December 2020, meanwhile. Source