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Bitcoin, altcoins sell-off on record-high inflation, but traders still expect BTC to consolidate -Breaking


The Bitcoin and Altcoins market sell-off due to record high inflation. But traders still believe that BTC will consolidate

The Consumer Price Index (CPI), which was released on June 10, showed a trend downwards in global financial markets. The shocking 8.6% was recordedThe highest printing since 1981, year over year increase

CPI printed hotter than anticipated resulted () in collapse of the $30,000 Support andBTCPrice dropped to $28,852 daily, before dip buyers succeeded in bringing it back to over $29,000

BTC/USDT 1-day chart. Source: TradingView
Comparison of DXY 4 hour chart and SPX 2 hours chart Twitter (NYSE:
4-hour chart. Source: Twitter
BTC/USD 2-hour chart. Source: Twitter