bitcoin price

Bitcoin Magazine Bitcoin Price Spikes, Shrugs off Hot US Inflation Data The price of bitcoin is up, despite the fact that an interest rate hike could be just around the corner. This post Bitcoin Price Spikes, Shrugs off Hot US Inflation Data first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin fell below $80,000 following an unexpectedly strong U.S. jobs report, which heightened concerns about potential Federal Reserve interest rate hikes and impacted the cryptocurrency market.

Fidelity warns that despite recent upward momentum and a nearly 30% gain, the bitcoin bear market may still persist, with a potential market bottom materializing in November or later according to a fresh analysis.

Bitcoin surged past $81,000 on Thursday, driving significant gains for crypto-related equities including Strategy, Coinbase, and various mining firms amid favorable regulatory and macroeconomic developments.

Bitcoin dropped over 2% to trade at $77,363 as escalating military conflicts between the United States and Iran prompted a risk-off investor stance and rising oil prices.

Bitcoin defied traditional summer slumps by recording its third-best August in history, generating 25% in returns driven by shifting U.S. Treasury policies, ETF inflows, and regulatory developments.