Bitcoin, Ethereum, and Dogecoin Trade Mixed As Investors Await Inflation Numbers: Analyst Shrugs Off King Crypto At $12K, Suggests 'Accumulate More If You Can'
Portfolio Pulse from Shivdeep Dhaliwal
Major cryptocurrencies traded mixed on Monday with the global cryptocurrency market cap declining 0.3% to $1.2 trillion. Bitcoin was marginally higher, Ethereum was down, and Dogecoin was down 2.27%. Analysts are awaiting the Consumer Price Inflation report due on August 13 for further market direction. Cryptocurrency trader Michaël van de Poppe suggested that it's a time to accumulate more if possible. Chainlink whales have purchased 14 million LINK over the past week, worth over $100 million.
August 08, 2023 | 2:51 am
News sentiment analysis
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NEGATIVE IMPACT
Dogecoin was down 2.27% at the time of publishing.
Dogecoin's price has declined, and the upcoming Consumer Price Inflation report could further influence its direction.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ethereum was down 0.73% at the time of publishing.
Ethereum's price has declined, and the upcoming Consumer Price Inflation report could further influence its direction.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Bitcoin traded marginally higher, awaiting regulatory clarity for a push beyond the $30,000 level.
Bitcoin's price is currently stable, but the upcoming Consumer Price Inflation report and regulatory clarity could influence its direction.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80