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Bitcoin Dips as the US Gov. Moves 825 BTC
The US Government transferring 825 Bitcoin linked to the Silk Road attack is most likely to blame for the decrease in BTC prices.
Despite low inflation and a weaker dollar, Bitcoin cannot rally
One would imagine that Bitcoin would increase after the CPI statistics revealed lower-than-expected inflation numbers. Bitcoin did not participate in the broad market upswing, in contrast to other assets like gold and silver and indices like the Nasdaq 100. While Bitcoin typically exhibits more pronounced swings to the upside and fall than the Nasdaq 100, yesterday wasn't one of those days.
Informing a triple bottom from its current value and the lows reached in February and April, the dollar fell to a 3-month low of 100.50. The dollar index's next points of stability are 99.5 and 97.7.
This should have also given the biggest cryptocurrency bullish headwinds, but instead we observed a mild decline.
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