Bitcoin breaks down as stocks slide on inflation data
Photo: Crypto Daily
US price increases went from an annual rate of 3.4% in August, to 3.7% in September, dealing a blow to the U.S. stock market and pushing Bitcoin into a potential breakdown. With the S&P 500 facing a further fall at the open on Thursday given the dreadful PPI data, could this result in Bitcoin confirming its breakdown? As can be seen in the 4-hour chart above, the $BTC price has broken below the bottom of the ascending channel .
Source: Crypto Daily
