Bitcoin Falls After New ATH as Altcoins Drop
Bitcoin briefly surged above $124,000 overnight before retreating to $120,991 (+0.6% 24h) after hotter-than-expected US wholesale inflation data dampened expectations for a September Fed rate cut.
Key Market Moves:
Ethereum (ETH): $4,577 ▼ 2.3%
Solana (SOL): ▼ 2.9%
XRP: ▼ 5.1%
Dogecoin (DOGE): ▼ 7.7%
Market Drivers:
Strong bets on interest-rate cuts have fueled crypto gains in recent weeks.
Hot US PPI data for July reduced confidence in a near-term Fed cut.
Lower rates typically favor risk assets like crypto, while a weaker dollar boosts valuations.
In the Spotlight:
Bullish Exchange: +84% in IPO debut, +8.5% premarket Thursday.
180 Life Sciences (ETHZilla): Holds large ETH reserves, down 28% premarket.
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Disclaimer: This content is for informational purposes only and does not constitute financial advice. I have no affiliation, sponsorship, or partnership with any companies or individuals mentioned.
