CPI Report: Will It Make or Break Bitcoin? 😜

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Oh, the drama! The Bitcoin Coinbase Premium Index, a fancy metric that measures Bitcoin’s pulse, has hit a 6-month low! 🤓

This news comes just before the big, bad CPI report on Wednesday. Investors are getting jittery, and some are even selling their Bitcoin faster than you can say “abracadabra!” 😱

The Coinbase Premium Index went negative for the first time since the infamous August 3 crash. Yikes! According to CoinGlass data, the index dropped to -0.0254% on Tuesday. Coincidentally, Bitcoin also took a tumble to $95,902 on the same day. What are the odds? 😏

But don’t worry your pretty little heads! While US investors might be selling, Bitcoin investors abroad are still in the game. They’ve helped the coin bounce back to $96,061 at the time of writing. Not too shabby! 💃

Now, you might be wondering, “What in the world is this CPI thingy, and why should I care?” Well, my friend, the CPI is a nifty little report that shows inflation and purchasing trends. If the CPI is high, it means there’s more inflation. If it’s low, well, you get the idea. 🤓

So, buckle up, buttercup! The CPI report could either send Bitcoin to the moon 🌙 or send it into a downward spiral. 😱

As of now, Bitcoin is trading at $96,330, down 1.9% in the last 24 hours. The market cap is at a whopping $1.9 trillion, and the daily trading volume has jumped over 9% to $36.79 billion. Not too shabby, huh? 😎

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2025-02-12 14:28