Bitcoin Rises Above $26,000 Following Inflation Data; Terra Classic Emerges As Top Gainer
Portfolio Pulse from Lisa Levin
Bitcoin (BTC) traded above $26,000 following the release of US inflation data, which eased to 4.0% in May. Ethereum (ETH) also edged higher but remained below the $1,800 mark. Terra Classic (LUNC) emerged as the top gainer in the past 24 hours.
June 13, 2023 | 1:36 pm
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Bitcoin traded above $26,000 following the release of US inflation data, which eased to 4.0% in May.
The easing of US inflation data may have contributed to the rise in Bitcoin's price, as investors may see it as a hedge against inflation. The positive price movement indicates a short-term bullish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ethereum edged higher but remained below the $1,800 mark.
Ethereum's price movement is also likely influenced by the easing of US inflation data. Although it has not crossed the $1,800 mark, the upward trend indicates a short-term bullish sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Terra Classic emerged as the top gainer in the past 24 hours.
Terra Classic's price increase may be due to various factors, such as market sentiment, news, or developments related to the project. The significant gain indicates a short-term bullish sentiment for the asset.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100