Posted 3/14/2024, 9:28:28 PM
Bitcoin Drops Below $69K After Hitting All-Time High, Coinbase Selling Pressure Adds to Inflation Concerns
- Bitcoin fell below $69,000 after hitting an all-time high of $73,700 the previous day
- The drop coincided with higher-than-expected US inflation data that could impact future Fed interest rate cuts
- Grayscale moved over $400 million in Bitcoin to Coinbase, likely to sell some of its holdings
- Grayscale selling Bitcoin has caused downward price pressure before, such as in January
- Nine other crypto ETFs saw record net inflows of over $1 billion this week despite Bitcoin's drop
