Bitcoin (BTC/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD) – – Press Release | Online Free Press release news distribution


Bitcoin and ether was trading significantly lower Tuesday night, as the global cryptocurrency market cap fell 7.5% to $986.4 billion as of 8:26 p.m. EDT.

Price development of major coins
coin 24 hours 7 days Price
Bitcoin BTC/USD -9.7% 7.2% $20,217.87
ether ETH/USD -7.8% 0.9% $1,577.62
Dogecoins DOGE/USD -6.3% 1.5% $0.06
Top 24-hour Gainers (data from CoinMarketCap)
cryptocurrency 24-hour % change (+/-) Price
Terra classic (LUNK) +21.8% $0.00036
TerraClassicUSD (USTC) +6.3% $0.04
Terra (LUNA) +5.2% $4.23

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Why it matters: Major cryptocurrencies fell after the US work department published the inflation figures for August, which indicated that the consumer price index rose by 8.3% year-on-year.

Although inflation slowed from the 8.5% rise in July, it was above economists’ average estimate of 8%.

Stocks tumbled Tuesday, with the S&P 500 and Nasdaq down 4.3% and 5.2%, respectively. US stock futures are flat at the time of writing.

“Searing inflation triggered a sell-off in stock markets that’s also sweeping bitcoin,” he said Edward Moyaa senior market analyst OANDAaccording to a note from Benzinga.

“Hopes for a soft landing, the end of the Fed hike cycle and a resilient consumer are fading. Bitcoin’s plunge reminded traders that it remains the ultimate risky asset and is vulnerable if the stock market sell-off deepens.”

Justin Bennettwho had warned investors not to get “too comfortable” tweeted yesterday that the “writing on the chart” is for cryptocurrencies and stocks.

The trader warned that he thinks we haven’t seen the bottoms for bitcoin yet.

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