Tue. Feb 11th, 2025

Crypto Market Today: Bitcoin Dips Below $20,000 as Traders Eye Inflation Data

Bitcoin dipped below $20,000 on Tuesday as traders braced for key inflation data that could impact the Federal Reserve’s monetary policy. The world’s largest cryptocurrency by market value was down around 3% at $19,935. Ethereum also fell, dropping nearly 5% to $1,550. The moves came after a volatile weekend during which bitcoin briefly touched $21,000 before giving up those gains. Traders are now looking to Wednesday’s Consumer Price Index report for signs of inflation easing or accelerating. The Fed has signaled that it could start reducing its monthly bond purchases as soon as November if inflation remains high.

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