Bitcoin price hit a new yearly low but are the catalysts short-term or long-term? Cointelegraph explains what is pushing down crypto prices today.
The Consumer Price Index report - the most widely followed barometer of inflationary pressure in the United States - climbed 8.2% in September compared to the same month a year ago, slightly more than the 8.1% predicted by experts.
Between mid-June and mid-July, Binance reported a 50% drop in volume, while Kraken and Gemini saw 75% and 80% drops respectively. The short-term uncertainties in cryptocurrencies do not appear to have changed institutional investors' long-term outlook. According to BNY Mellon CEO Robin Vince, a poll commissioned by the bank found thatin investing in tokenized assets in the following years.
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