Bitcoin, Ethereum Edge Lower Following Jobless Claims Data; Nervos Network Becomes Top Loser
Portfolio Pulse from Avi Kapoor
Bitcoin and Ethereum experienced declines following unchanged U.S. jobless claims data, with Bitcoin falling below $63,000 and Ethereum staying above $3,000. The global crypto market cap dropped by 0.7%. Injective was the top gainer, while Nervos Network was the biggest loser among cryptocurrencies.
April 18, 2024 | 1:52 pm
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NEGATIVE IMPACT
Bitcoin fell below the key $63,000 level, trading lower by 0.6% at $62,482.
Bitcoin's price movement is directly tied to the market's reaction to unchanged jobless claims, indicating a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Nervos Network experienced the largest loss, dropping 10.1% to $0.01925.
As the biggest loser in the last 24 hours, Nervos Network's significant drop suggests a negative short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ethereum recorded losses but remained above the $3,000 mark, falling around 0.7% to $3,037.
Ethereum's slight loss, despite staying above $3,000, reflects a cautious market response to economic data, suggesting a negative short-term outlook.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Injective was the top gainer over the past 24 hours with a 3.9% increase, price at $26.20.
Injective's position as the top gainer in the last 24 hours, despite overall market downturn, indicates strong performance and positive short-term potential.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80