Bitcoin (BTC) Price Falls on Higher Inflation

After about a 70% rise in 2024 to a new record high just shy of $74,000, bitcoin was surely vulnerable to a correction and it could be that the inflation, interest rate and dollar news has given traders an excuse to lighten up. After touching $73,800 earlier Thursday morning, bitcoin slid to as low as $70,650 after the economic data. At press time it was trading at $70,900 down more than 3% over the past 24 hours. The broader CoinDesk 20 Index was lower by just 1.7%, with gains in Solana and Dogecoin helping that gauge’s outperformance.

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