Crypto and traditional assets sank after U.S. data showed inflation persisting.
Bitcoin traded down about 1.5% to $23,785 at 8:45 a.m. EST, while ether fell about 1% to around $1,639.
The price index for personal consumer expenditures rose 0.6% last month, and data for December was also revised higher. The estimate had been for a rise of 0.4% in the core index, according to Investing.com.
S&P 500 and Nasdaq futures were pointing to drops of more than 1% each, while crypt0-related stocks including Coinbase and Silvergate were trading lower pre-market.
Block, which reported better-than-expected revenue and profit for the fourth quarter despite getting hit by bitcoin, was up 5% before the open.
Source: https://www.theblock.co/post/215031/ether-bitcoin-track-nasdaq-sp-declines-as-new-data-keeps-inflation-fears-in-focus?utm_source=rss&utm_medium=rss