Bitcoin slides further as US inflation hits 13-year-high

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Bitcoin, the largest cryptocurrency continued to slide for a second day in a row on Tuesday (July 13th) after US inflation stats showed consumer prices in the country grew at their highest pace in June, hitting the highest level since 2008.

The US Bureau of Labor’s consumer price index (CPI) climbed from 1.4% y/y in January to 5.4% in June, the data showed, causing the price of bitcoin to go down to about $32,800 on Tuesday from its all-time high of nearly $65,000 in April.

Bitcoin slid -3.64% on Tuesday, hitting a low of $31,669 during the day.

Ethereum, the second biggest digital coin, also performed negatively going -6.14% to a 24-hour low of $1.866.

All other cryptocurrencies in the Top 10 were also in the red.

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