您现在的位置是:Crypto tanks alongside stocks after US inflation data >>正文
Crypto tanks alongside stocks after US inflation data
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛97284人已围观
简介Bitcoin fell below $21,000 or -9% to touch lows of $20,427 on Coinbase, while Ethereum price retreat...
- Bitcoin fell below $21,000 or -9% to touch lows of $20,427 on Coinbase, while Ethereum price retreated to $1,590.
- Stocks also plunged on the hotter-than-expected CPI data, with S&P 500 down more than 3%.
Crypto witnessed another sharp sell-off Tuesday as risk-on assets reacted negatively to fresh US inflation data, which came in hotter-than-expected.
In cryptocurrencies, Bitcoin (BTC) fell nearly 10% to break below $21,000 as losses in the altcoin market included Ethereum (ETH) dipping under $1,600. The losses across cryptocurrencies had the sector nursing over 5% in total market cap declines, which together pushed the metric to $1.05 trillion.
BTC/USD daily chart showing the sharp decline in price after the CPI data. Source: TradingViewBitcoin traded to lows of $20,427 per unit on major crypto exchange Coinbase as shown in the above chart.
Stocks also fall sharply
The picture was not that different on Wall Street, with traditional financial markets experiencing a similar downside move. The S&P 500 fell more than 3% and the Nasdaq shed 4% as stocks crashed on the hot inflation readings.
The Dow Jones Industrial Average was down more than 900 points, or 3% lower at around 14:25 pm ET.
On Tuesday, the US Bureau of Labor Statistics released the latest Consumer Price Index (CPI) readings for August, with data showing prices increased by 8.3% year-over-year last month. Prices rose 0.1% over the month to come in hotter than the expected 8.1%YoY and a 0.1% decline over the month.
The markets’ reaction to the data comes as the US Federal Reserve is expected to raise interest rates by another 75 basis points next week. Commenting on the print, CNBC’s Steve Liesman said the 75 bps is now “written in red.”
"The Fed just erased the 75 basis point hike that was written in pencil and wrote it in red ink," says @SteveLiesman on the latest CPI data. "This moves them to 75 for sure at this point because they didn't get the help they were looking for." pic.twitter.com/zcHJ0LpOR8
— Squawk Box (@SquawkCNBC) September 13, 2022
Going back to the crypto market, a key event to watch this week is the highly anticipated Ethereum Merge, which analysts say could come with increased volatility not just for ETH but for most other crypto assets.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/393435.html
相关文章
Lido Finance triggers “staking rate limit” after 150K+ ETH gets staked in a day
Crypto tanks alongside stocks after US inflation dataThe highly anticipated Ethereum Shanghai upgrade is only days away now.The Shanghai upgrade is causi...
阅读更多
Why social media users deserve an upgrade
Crypto tanks alongside stocks after US inflation dataIf Karl Marx were around today, he would be forced to concede that social media is the opium of the...
阅读更多
IMF wants more regulations on private cryptocurrencies, says Kristalina Georgieva
Crypto tanks alongside stocks after US inflation dataIMF Managing Director is seeking more regulations on private cryptocurrencies.Kristalina Georgieva a...
阅读更多
热门文章
- Archaeological method uses Earth's magnetic field to verify an Old Testament event
- Algorand names COO Sean Ford as Interim CEO
- Tropicana turns its back on AI, rebrands as 'Tropicn'
- Brightvine announce $147 million securitisation of subordinated debt
- Mystery of missing Malaysian MH370 flight could be solved in 'days'
- UNI rallies after Wemade liquidity addition
最新文章
Syscoin to launch a ZKCross
Top 3 altcoins to buy as Bitcoin whales buy the dip
Infinity Skies rallies by 200% today as the broader market struggles
Stacks price relentless bull run gains steam: is it still a buy?
The US government needs to provide a clear regulatory framework for crypto, says Coinbase's CEO
5 Reasons You Should Look into AltSignals' New Token, ASI