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00:02Bitcoin and other cryptocurrencies declined Thursday as traders looked ahead to key U.S.
00:06inflation data after this week's sharp sell-off, according to Barron's.
00:10Bitcoin was down 0.8% over the past 24 hours at $111,722, marking a 4.6% loss over the week
00:17and nearly 10% below its August record high.
00:20Ether fell 4.3%, Ripple's XRP slipped 0.1%, and Solana dropped 2.7%.
00:26Pullback follows Monday's major deleveraging event, the biggest of the year,
00:30after the Federal Reserve's quarter-point rate cut last week.
00:33Maja Vucevic, CEO of Digital Assets at AppGNexus, said the recent crypto sell-off was driven by excess leverage
00:39and forced liquidations after Bitcoin fell, not by weak fundamentals.
00:44Estras now await Friday's personal consumption expenditure data, the Fed's preferred inflation gauge,
00:48which could influence the central bank's rate path.
00:50For all things money, visit Benzinga.com.
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