Crypto market react to CPI report

Bitcoin and Ethereum experienced a 0.39% drop in 24 hours, but gained 0.95% for the week.

The Consumer Price Index (CPI) rose 0.2%, boosting inflation to 3.2%.

The Labor Department’s headline CPI report signaled the end of the Fed’s hiking curve.

Analysts have emphasized the U.S. deadline for ARK Investment Management’s spot Bitcoin ETF application as a critical market date.

Other top 10 non-stablecoin cryptocurrencies traded mixed, with Solana increasing by 1.59% and Tron rising by 1.15% in seven days.

Crypto market capitalization fell 0.24% to $1.17 trillion, while trading volume fell 26.24% to $26.47 billion.


Posted