Bitcoin Drops to One-Month Low as US CPI Report Hurts Sentiment
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Bitcoin continued its selloff into Asia’s Monday morning as part of broader declines in cryptocurrencies after a sharp rise in US inflation triggered risk-off sentiment.
The world’s largest digital token tumbled as much as 6.4% to $25,593, its lowest level since May 12, in a seventh day of losses. Ether fell as much as 9% to $1,342.32. Other coins tracked by Bloomberg including Cardano, Dogecoin, Polkadot and Avalanche were also in the red.