Bitcoin Falls Below $70,000. Why Ethereum and XRP Prices Slipped Too. — Barrons.com
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By Alex Kozul-Wright
Bitcoin ticked below $70,000 early Wednesday as investors monitored news in the Middle East and looked ahead to U.S. inflation data, due out later in the day.
But the world's largest cryptocurrency climbed back above that level to $70,668 by late afternoon, according to Dow Jones Market Data.
Digital assets may have been following the broader downturn in financial markets. The Dow Jones Industrial Average closed 0.1% lower Tuesday, while the S&P 500 dropped 0.2%, after a clear timeline for the war in Iran failed to emerge.
Elsewhere, February's consumer price index report is due out Wednesday, which will be watched closely for how inflation affects the Federal Reserve's interest-rate policy.
The chances of a rate cut when the Federal Open Market Committee meet on March 17-18 are below 1%, according to the CME FedWatch tool. Still, cryptocurrency investors will pay close attention to the report for any clues about the likely path of U.S. monetary policy — interest rates and digital asset prices tend to move in opposite directions.
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260311001933:0/
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