Bitcoin Nears $80K As Gold Rallies On Market Fears

Bitcoin fell back around $81,000 after US inflation exceeded expectations, reviving the risk of another rate hike by the Federal Reserve. The simultaneous decline in stocks, copper and bond yields, while gold rises, mainly reveals a general flight to assets deemed safer. Bitcoin lost more than 2% in 24 hours on October 15, with a temporary dip near $80,250, its lowest level for nearly a month. Ether, XRP, and Solana suffered even steeper declines, confirming the fragility of digital assets when US monetary prospects tighten. The decline in copper provides important information. This metal is often considered an indicator of global economic activity as it is used in construction, electrical networks, and industry. Its decline, along with stocks, suggests investors fear both high rates and slowing growth.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cointribune.