Bitcoin fell to its lowest level in over a week as investors continued to digest jobs numbers and looked ahead to CPI data Thursday.
The largest cryptocurrency by market cap was down by about 1.5% to $19,178.43, according to Coin Metrics."Today there seems to be some jitters and derisking across all markets as we approach Thursday's CPI release," said Riyad Carey, a research analyst at Kaiko."Bitcoin is moving closely with equities and I'd expect that to continue as there haven't been many crypto-specific catalysts in recent weeks.
On Thursday the Bureau of Labor Statistics will release September's consumer price index. Economists surveyed by Dow Jones expect headline CPI to show a 0.3% monthly increase and an 8.1% annual gain. Investors watch these updates closely for clues about the Federal Reserve's next move in its fight to bring down inflation.
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