Bitcoin rebounds with equities after inflation data sparks initial sell off

With U.S. equities, bitcoin recovered from a steep decline that followed a higher-than-expected estimate for September inflation in the U.S.

Consumer Price Index (CPI) report on Thursday by trading back above US$19,000 early on Friday morning in Asia. 

Two other tokens among the top 10 by market capitalization to rise were BNB and memecoin Shiba Inu.

Following the CPI data, Bitcoin dropped as low as US$18,319 but has since recovered 5.6% to trade at US$19,352 at 8:30 a.m. in Hong Kong.

According to CoinMarketCap, ether dropped as low as US$1,209 before rebounding to US$1,287, though it was still down 0.7%.

With the exception of stablecoins, all top ten cryptocurrencies experienced a similar sell-off and recovery trend


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Bitcoin ticks up amid September CPI print