BTC & ETH Drops as UK CPI Hits after Ages

The post BTC & ETH Drops as UK CPI Hits after Ages appeared first on Coinpedia Fintech News

Bitcoin and other major cryptocurrencies fell due to poor UK performance in broader equity markets. With Bitcoin dropping below $27k during Asia trading and markets reacted to poor UK inflation figures. UK surprises as CPI (Customer Price Index) rose to 6.8% since 1992, surpassing the forecast of 6.2%. UK banks ongoing pressure in an interest rate hike, Bitcoin drops 2% in the past 24 hours, trading below the $27k resistance level and reversing earlier gains. Ether traded around $1,800 while SOL & BNB tokens show a loss. 

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