BTCM - Bitcoin gets smacked after hotter-than-expected CPI print
Bitcoin (BTC-USD) rejected $45K and turned negative immediately after headline consumer price inflation rose to its highest level in 40 years. Following the stronger-than-expected CPI print, bitcoin (BTC-USD) dropped as much as $1K per token in less than five minutes, recently changing hands at $43.8K. Looking at the entire digital asset ecosystem, the global crypto market cap is also slipping about 2% in the past 24 hours, with ethereum (ETH-USD -1.4%) down to $3.1K, and binance coin (BNB-USD -0.7%), ripple (XRP-USD -3.8%), cardano (ADA-USD -1.0%), terra (LUNA-USD -2.7%) and avalanche (AVAX-USD -1.7%), all trading in net negative territory. Crypto-related stocks are trading primarily in the red, including: MGT Capital Investments (OTCQB:MGTI -1.1%), Riot Blockchain (RIOT +0.4%), Coinbase Global (COIN -2.3%), Bitfarms (BITF +0.5%), BIT Mining (BTCM), Bakkt (BKKT -5.4%) and Silvergate (SI +1.4%). CleanSpark (CLSK +9.1%) is an exceptional gainer following robust first-quarter results. Note that Gold (XAUUSD:CUR) also slipped to about
For further details see:
Bitcoin gets smacked after hotter-than-expected CPI print