I think people need to stop reading too much into every bitcoin price drop.
^ this.Although I should add that it is about the size of the drop. 3% should be considered normal fluctuations in bitcoin market. If it were 30% then it would deserve discussing about the reasons.
Why is it that bitcoin and other cryptocurrencies have declined in response to the inflation rate rising?
Altcoins get dumped whenever bitcoin makes any move up or down. As for inflation, the inflation itself affects bitcoin price positively not the news about inflation.When we zoom out we see a similar pattern repeat over the past months multiple times. Price slowly goes up to reach some resistance level and most of the times it can't break it so it comes down, sometimes it breaks it and sets a new ATH. But it is like a sideways market with an overall upward movement.
