Crypto
US Inflation Jumps, Weighing on Bitcoin and MSTR Stock
The US core inflation jumped 0.4% in August, exceeding analysts' expectations.
This development has put pressure on Bitcoin and MSTR stock, which have both pulled back from their recent highs.
MSTR stock traded near $129-$130 on Friday as investors reacted to the stronger-than-expected US inflation data.
The company's stock price peaked at $144.60 on September 3rd but has since retreated below $130, forming an abandoned baby candlestick pattern that is often a bullish reversal sign.
The Federal Reserve is likely to raise interest rates next week due to the strong inflation report, which could further weigh on Bitcoin and MSTR stock.