Ethereum Falls Below $4,000 Following PPI Data; Bittensor, ApeCoin Among Top Losers
Portfolio Pulse from Avi Kapoor
Cryptocurrency prices experienced fluctuations following the release of U.S. Producer Price Index data, with Ethereum falling below $4,000 and Bitcoin dropping below $73,000. Bittensor and ApeCoin were among the top losers, while dogwifhat led the gainers. The global crypto market cap increased by 2.1% to $2.76 trillion.
March 14, 2024 | 1:32 pm
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NEGATIVE IMPACT
Bitcoin fell below the key $73,000 level, trading lower by 0.5% at $72,710.
The drop in Bitcoin's price below a significant psychological level of $73,000, influenced by the PPI data, suggests a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Ethereum recorded losses, trading below the key $4,000 mark at $3,931.
Ethereum's fall below the critical $4,000 level, likely due to the PPI data, indicates a negative short-term impact on its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90