Live updates: Bitcoin sinks to $77,000 as CPI lands with hike odds near 70%
Bitcoin and other major cryptocurrencies have declined as market expectations for a Federal Reserve interest rate hike rise to 69%. Investors are closely monitoring the upcoming CPI data, which is influencing both crypto and traditional financial markets.
Why it matters
The correlation between macroeconomic indicators like interest rates and crypto asset performance highlights the increasing integration of digital assets into the global financial system.
Zcash was the standout decliner at nearly 10%, though it remains up 8% over seven days after last week's run past $1,000. Hyperliquid fell 4% and XRP nearly 3%. Dogecoin, solana and bitcoin each dropped between 1% and 2%, while ether, BNB and tron were close to flat. Tron is the only major holding a weekly gain, at 3%, against XRP down 8%, hyperliquid down 9% and solana down 5%.
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