CRYPTO NEWS - Situation is Stable After Turbulence - BTC Price is Around $20K - Market is in Green
CRYPTO NEWS - Situation is Stable After Turbulence - BTC Price is Around $20K - Market is in Green
Intro: (0:00)
Bitcoin News: (1:11)
Bitcoin Holds Steady Above $20,000: (3:15)
Crypto News: (5:12)
Bitcoin Price: (6:41)
Ethereum News: (7:15)
Outro: (08:08)
Bitcoin bucked its shaky initial reaction to the latest Consumer Price Index (CPI) report released on Thursday, rebounding right away after an expected price decline.
Bitcoin nears $20K mark after the CPI report was released
Inflation in U.S. is at 8.2%, the highest since 1982
BTC market capitalization trimmed by almost $5 billion
Just a few moments after the CPI report was released, BTC, as expected, dropped all the way to $17,985 in tallying a new October low, CNBC reports.
But bitcoin was able to parry the full-blown CPI onslaught as it recovered above the $19,000 level. According to tracking from Coingecko, at press time, the largest cryptocurrency in terms of market cap was changing hands at $19,863.
The asset was up by 4.2% for the past 24 hours and was able to increase by 1.6% for the last 2 weeks. According to Statmuse, its current trading price is its 4th highest one for the month of October.
Related Reading: Duh? Bitcoin? Study Shows Over 60% Of Global Population Are Ignorant About Crypto
Bitcoin Records Massive Outflow After CPI Report
The maiden crypto’s post-CPI reaction is not only confined in its price movement as its total market capitalization witnessed a decline.
After the September inflation figures were released in public, bitcoin experienced increase in selling pressure, driven by speculations on what the Federal Reserve plans to do next in order to contain economic pressure, the report added.
Intro: (0:00)
Bitcoin News: (1:11)
Bitcoin Holds Steady Above $20,000: (3:15)
Crypto News: (5:12)
Bitcoin Price: (6:41)
Ethereum News: (7:15)
Outro: (08:08)
Bitcoin bucked its shaky initial reaction to the latest Consumer Price Index (CPI) report released on Thursday, rebounding right away after an expected price decline.
Bitcoin nears $20K mark after the CPI report was released
Inflation in U.S. is at 8.2%, the highest since 1982
BTC market capitalization trimmed by almost $5 billion
Just a few moments after the CPI report was released, BTC, as expected, dropped all the way to $17,985 in tallying a new October low, CNBC reports.
But bitcoin was able to parry the full-blown CPI onslaught as it recovered above the $19,000 level. According to tracking from Coingecko, at press time, the largest cryptocurrency in terms of market cap was changing hands at $19,863.
The asset was up by 4.2% for the past 24 hours and was able to increase by 1.6% for the last 2 weeks. According to Statmuse, its current trading price is its 4th highest one for the month of October.
Related Reading: Duh? Bitcoin? Study Shows Over 60% Of Global Population Are Ignorant About Crypto
Bitcoin Records Massive Outflow After CPI Report
The maiden crypto’s post-CPI reaction is not only confined in its price movement as its total market capitalization witnessed a decline.
After the September inflation figures were released in public, bitcoin experienced increase in selling pressure, driven by speculations on what the Federal Reserve plans to do next in order to contain economic pressure, the report added.
