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Crypto

Bitcoin Slips Below $64,000 as Oil Prices and Inflation Concerns Weigh on Cryptocurrency Market

Guavy AI Editorial Team
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BTC ETH SOL
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The cryptocurrency market saw a decline on August 11 as Bitcoin fell below $64,000. The price of BTC dropped 0.6% to $63,685.99, while Ethereum rose 0.4% to $1,882.06. Solana also declined by 0.3% to $76.10.

The decline in crypto prices is attributed to rising oil prices and inflation concerns. The market is anxiously awaiting the release of inflation data tomorrow, which could further pressure prices if it indicates higher inflation rates.

Crypto ETFs have seen increased inflows following a recent hack that compromised Coldcard wallets. Investors are turning to these funds as an alternative way to secure their digital assets.

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