Market Wrap: Bitcoin’s Price Plummets on Global Inflation Concerns

Publikováno: 19.8.2022

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The decline in crypto prices appears to be linked to poor inflation data in Germany. Bitcoin (BTC) sold off sharply in Friday trading, and was recently trading below $21,500, down more than 8% over the last 24 hours. The largest cryptocurrency by market capitalization is down 13% for the week.The decline started during overnight trading, coinciding with unexpectedly high inflation data in Germany. Germany’s annual producer inflation figures rose to a record high of 37% in July, versus expectations of 32%.
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