Bitcoin Tumbles As Crypto Market Plunge Erases $150 Billion—But 'Worst May Be Ahead'

As such, inflation data and the January jobs report in the weeks to come could also spur losses, Hasegawa said, particularly if the Bureau of Labor Statistics reports another higher-than-expected inflation figure, which could pressure officials to hike rates aggressively to help combat the surging prices.

Eli Ndinga, a research lead at cryptocurrency issuer Amun, agreed in an email, saying the recent inflation reports have"instilled fears that the U.S. economy could be headed towards a recession" as the Fed reverses pandemic-era stimulus measures.

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Bitcoin Dipped to $43K: Ethereum Battles to Maintain $3K (Market Watch)Most of the crypto market is in red now, with bitcoin falling by over $1,000 to $43,000 and ether trying to remain above $3,000.
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Crypto Markets Lost $130B in a Day as Bitcoin Dumped to a 2-Week Low (Market Watch)The cryptocurrency market cap is down by $130 billion in a day as bitcoin and most of the altcoins nosedived.
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