Bitcoin Falls Below $30,000 After Inflation Data; Optimism, Injective Among Top Losers
Portfolio Pulse from Lisa Levin
Bitcoin and Ethereum traded lower, with Bitcoin falling below the key $30,000 level. The U.S. annual inflation rate rose to 3.2% in July from 3% in June, but was lower than market estimates of 3.3%. Aptos was the top gainer over the prior 24 hours, while Optimism was the biggest loser. The global crypto market cap fell to $1.17 trillion, recording a 24-hour decline of 0.8%.
August 10, 2023 | 1:37 pm
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NEGATIVE IMPACT
Bitcoin fell below the key $30,000 level.
Bitcoin's price fell below a key level, which could trigger further selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum also moved lower, but remained above the key $1,800 mark.
Ethereum's price also fell, but it remained above a key level, which could provide some support.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Optimism was the biggest loser over the prior 24 hours.
Optimism's price fell the most among the cryptocurrencies mentioned, which could lead to further selling pressure.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
THORChain was among the top gainers over the prior 24 hours.
THORChain's price rose, which could attract more buyers and push the price higher.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70