Inflation Fears Send Bitcoin Below $32K – eToro Crypto Roundup

Inflation Fears Send Bitcoin Below $32K – eToro Crypto Roundup

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Crypto sinks with stocks on economic uncertainty.

Bitcoin’s summer slump continues, with prices falling below $32K as post-pandemic inflation fears wash over the cryptocurrency market.

Trending: Robin Bullock: Current Events Update – Kim Clement!

The U.S. Labor Department released data last week showing that US consumer prices spiked beyond expectations in June. Major stock indices started falling shortly afterwards, and Bitcoin – already feeling jittery about the impact of GBTC shares unlocking – followed stocks down.

At the end of the week, Bitcoin was down 5%, while Ethereum had fallen 7%. Many altcoins dropped even further, with Dogecoin down 15% on the week and DeFi tokens Aave and Uniswap showing similar losses.

This week’s highlights

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