Bitcoin Drops As Inflation Falls To 8.3% In August – Bitcoin Magazine

  • Inflation fell to 8.3%, marking the second consecutive month of falling CPI reports.
  • Every sector witnessed increased MoM inflation, except the energy sector which tilted the report.
  • Bitcoin plunged below the $22,000 support level following the CPI release, along with stocks and gold; the dollar edged higher.

Inflation fell to 8.3% from a year-over-year (YoY) perspective marking the second consecutive month of a declining Consumer Price Index (CPI) report. Following the inflation numbers release, bitcoin dropped below $22,000 –– a level it had managed to sustain for the past few days.