BTC fall in price as investors await the result of US Inflation Data
According to Gate.io News, Bitcoin (BTC), the world's largest cryptocurrency, started in the red zone this week as investors braced for the big announcement from the United States on economic data according to the United States Economic Calendar.
At this time, major cryptocurrencies on the Gate.io top 20 trading platform are in red, with Bitcoin trading below $17,000 on the Gate.io trading chart. The United States will release inflation data on Tuesday, which is predicted to fall to 7.3%, down from 7.7% the previous month, as the fight against inflation continues.
The result of the inflation data is significant for the cryptocurrency market, and the figures released tomorrow will determine the direction of BTC. However, as the price of bitcoin continues to fall, some investors are buying the dip in the hopes of profiting on the next bitcoin rally.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
BTC fall in price as investors await the result of US Inflation Data
According to Gate.io News, Bitcoin (BTC), the world's largest cryptocurrency, started in the red zone this week as investors braced for the big announcement from the United States on economic data according to the United States Economic Calendar.
At this time, major cryptocurrencies on the Gate.io top 20 trading platform are in red, with Bitcoin trading below $17,000 on the Gate.io trading chart. The United States will release inflation data on Tuesday, which is predicted to fall to 7.3%, down from 7.7% the previous month, as the fight against inflation continues.
The result of the inflation data is significant for the cryptocurrency market, and the figures released tomorrow will determine the direction of BTC. However, as the price of bitcoin continues to fall, some investors are buying the dip in the hopes of profiting on the next bitcoin rally.