The euphoria in the cryptocurrency market took a sharp break this Friday (15) after the price of Bitcoin (
$BTC ) fell sharply.
According to CoinGecko, the cryptocurrency suffered a 7.6% correction and its price fell to the level of US$66,800.
In Brazil,
$BTC had a slightly larger drop, of 7.7%, and its price plummeted to R$334,524.
Because of the correction, the cryptocurrency market lost more than $200 billion in the last 24 hours, a drop of 7.76%.
The market-wide selling pressure comes as the US announces better-than-expected PPI inflation data.
With inflation still high, the Federal Reserve (Fed) may have to keep interest rates high for longer.
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