The bitcoin price dropped sharply today after a brief pump near $90,000, sliding to $84,544 as the price sell-off continued into its second month. 

Bitcoin lost 2% over the past 24 hours. It remains 5% below its seven-day high of $89,220 and hovers near the week’s low of $84,596. Trading volume reached $56 billion. Bitcoin’s market capitalization stands at $1.69 trillion. The circulating supply is roughly 19.96 million BTC out of a total 21 million, according to Bitcoin Magazine Pro data. 

The drop follows a brief rally that earlier saw the Bitcoin price test $89,000. The surge came after the U.S. released new Consumer Price Index data. Inflation rose 2.7% year over year…

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