NewsHK
Against a backdrop of positive US inflation data and US equities circling all-time highs, Bitcoin ($BTC) has moved in the opposite direction.
The token fell to $62,500, touching new August lows, with at least one trader warning that where the weekly candle closes could set off a further round of selling.
The read-through for risk appetite The gap between crypto and equities is the signal here, not the $62,500 figure.
Improving inflation data is the kind of macro input that tends to lift risk appetite across asset classes. Bitcoin is not reflecting that lift.
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