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Bitcoin on Monday fell to its lowest level in over a week as investors continued to digest strong jobs data from Friday that pushed risk assets including cryptocurrencies even deeper into the red.
The largest cryptocurrency by market cap was down by about 1.3% to $19,213.00, according to Coin Metrics. Earlier in the day it fell as low as $19,116.43. Ether fell about 1%, to $1,307.58, after falling as low as $1,297.07.
“Today there seems to be some jitters and derisking across all markets as we approach Thursday’s CPI release,” said Riyad Carey, a research analyst at Kaiko. “Bitcoin is moving closely with equities and I’d expect that to continue as there haven’t been many crypto-specific catalysts in recent weeks. I also expect significant volatility on Thursday, with a move up or down depending on the inflation figure.”
On Thursday the Bureau of Labor Statistics will release September’s consumer price index. Economists surveyed by Dow Jones expect headline CPI to show a...
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