Live updates: Bitcoin tumbles from near $84,000 ahead of U.S. inflation data

A brief spike to $84,000 early Wednesday faded within the hour, leaving bitcoin down 0.5% at about $83,200. It’s still boxed between its 50-day moving average near $81,000 and a ceiling at $84,000. The 50-day moving average is bitcoin’s average closing price over the past 50 days, and traders watch it for the medium-term trend. Buyers defended it on Tuesday, when bitcoin bottomed near $81,000, but they haven’t managed to push the price through $84,000 since. ZEC and TRX were the only gainers among the majors, up about 1%. HYPE was the laggard, down 2% to about $81.