US CPI figure reflected positively on the market
Cryptocurrencies, which have been separated from global markets for a while, have recovered after the consumer inflation data announced in the USA.
Cryptocurrencies rebounded after US inflation. The crypto money market, which ended its mini rally with the investigations and bans opened by the SEC for a while and separated from the global markets, fluctuated after the consumer inflation data from the USA yesterday. Inflation continues to fall in the USA. Although the inflation rate was slightly higher with 6.4% against the 6.2% expectation, the continuation of the downward trend in annual inflation since June relieved the markets. Bitcoin, which partially regressed at the first stage and saw $ 21,500 levels, later recovered and rose to $ 22,300 levels. In the morning hours, Bitcoin is trading at $ 21,150, while Ethereum finds buyers at $ 1,550. While Bitcoin dominance is 43.5, Ethereum dominance is 19.3. The total market value of the crypto money market is 1 trillion 30 billion dollars, which is 28 billion dollars higher than yesterday.
US CPI figure reflected positively on the market
In addition, the lack of serious macro data for the rest of the week may reduce the stress that has been seen for a while. Today, retail sales data in the USA will be followed and the consumption trends of individuals in the first quarter of 2023 will be understood. A strong data can create a partial movement on the markets. During the week, the hawk statements of FED members may create pressure. However, in the short term, the eyes and ears of crypto money market players will continue to be on the statements from the SEC.
