Bitcoin, which soared 14% in the past seven days, fell back after hitting an all-time high of $123,153 on Monday (14th). As of 1:20 pm on Tuesday, Bitcoin fell back to $117,550. On the eve of the release of US inflation data, the US dollar remained...
Bitcoin, which soared 14% in the past seven days, fell back after hitting an all-time high of $123,153 on Monday (14th). As of 1:20 pm on Tuesday, Bitcoin fell back to $117,550.
On the eve of the release of US inflation data, the US dollar remained near its nearly three-week high on Tuesday (July 15). Bitcoin fell back after hitting record highs.
Backed by rising U.S. Treasury yields, the US dollar continued to remain strong against other major currencies. The US dollar was 147.62 yen against the Japanese yen, after rising to 147.89 yen, reaching its high since June 23.
Feder Chairman Powell had previously expected U.S. inflation to rise due to tariffs, and the market generally expects the Fed to adjust interest rates until later this year.
rose slightly to $1.1681 against the euro, after falling to $1.165, the lowest point since June 25.
The Consumer Price Index (CPI), which reflects U.S. inflation levels, will be released Tuesday night. Economists surveyed by Reuters expect U.S. overall inflation to rise to 2.7% from 2.4% last month, and core inflation is expected to rise to 3.0% from 2.8%.
The dollar index, which measures the exchange rate of the dollar against a basket of major international currencies, fell slightly to 98.003, slightly below the overnight high of 98.136, the highest level since June 25.
