News updates May 11, 2022
1. Breaking: Bitcoin (BTC) Slips To Near $28K In Minutes After U.S. Inflation
Bitcoin (BTC) sank below $30,000 on Wednesday, minutes after data showed U.S. inflation was higher than expected in April.
BTC dropped over 6% from intraday highs, and fell as low as $29,100. Other major cryptocurrencies also turned negative for the day after the reading. Ethereum is now down nearly 7%, while Binance Coin and Ripple are trading down 16% and 20%, respectively.
BTC’s sharp fall mirrors that seen in U.S. stock futures, which all turned negative after data showed the U.S. consumer price index (CPI) rose 8.3% in April, higher than expectations of 8.1%.
2. Bitcoin Price Analysis - BTC Bulls Battle To Maintain $30,000 As Bearish Momentum Hits Highest Levels Since January.
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Bitcoin Price Analysis - BTC Bulls Battle To Maintain $30,000 As Bearish Momentum Hits Highest Levels Since January
an hour ago | Yaz Sheikh