Bitcoin Falls Below $27,000 Following CPI Data; THORChain, Rocket Pool Among Top Losers
Portfolio Pulse from Lisa Levin
Bitcoin and Ethereum prices fell below $27,000 and $1,600 respectively, following the release of the U.S. inflation rate data. The global crypto market cap also fell to $1.05 trillion, recording a 24-hour decline of 1.3%. Loom Network was the top gainer over the past 24 hours, while THORChain and Rocket Pool were among the biggest losers.
October 12, 2023 | 1:34 pm
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NEGATIVE IMPACT
Bitcoin price fell below $27,000 following the release of the U.S. inflation rate data.
The U.S. inflation rate data has a direct impact on Bitcoin price. The higher than expected inflation rate led to a decrease in Bitcoin price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum price fell below $1,600 following the release of the U.S. inflation rate data.
The U.S. inflation rate data has a direct impact on Ethereum price. The higher than expected inflation rate led to a decrease in Ethereum price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
THORChain was among the biggest losers over the past 24 hours.
The overall decline in the crypto market led to a decrease in THORChain price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100