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The Economic Times
The Economic Times
Business
Surbhi Khanna

Bitcoin falls below $79,000 ahead of US inflation data. Here’s what’s weighing on crypto

Bitcoin United States Inflation Crypto Tron US Federal Reserve Nischal Shetty Riya Sehgal Oil Ethereum

Bitcoin fell below the $79,000 mark on Tuesday as strong U.S. employment data has revived expectations of tighter Federal Reserve policy, while escalating U.S.–Iran tensions and higher oil prices are adding to inflation concerns ahead of this week’s U.S. inflation data. The cryptocurrency was trading at $78,339 mark.

In the past 24 hours, Bitcoin was down 1.43% and Ethereum was down 0.70% to trade at $2,479 mark. Among the major altcoins, BNB and Tron were up 1.18% and 0.33% respectively. Among the major altcoins, XRP, Solana, Hyperliquid, Dogecoin, and Cardano corrected upto 2.99%.

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