Bitcoin took a tumble on Friday, falling to an intraday low of $23,000
took a tumble on Friday, plummeting to an intraday low of $23,000. Data from CoinMarketCap revealed that the leading cryptocurrency suffered a loss of 3.3% in the past 24 hours.
The drop in Bitcoin's value followed the downward trend of U.S. stocks, as the Dow Jones Industrial Average plunged by 390 points or 1.2%, while the S&P 500 and Nasdaq Composite slid by 1.6% and 2.0%, respectively.The sharp decline was triggered by the release of data showing that the core monthly personal consumption expenditure rose 0.6% from December to January, surpassing the 0.3% forecast, and adding fuel to the already heated battle against inflation.
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