Crypto Market Recovers Despite Higher Inflation Rate

Cryptocurrency News Live Updates and Latest News: The Global crypto market has registered a broad recovery with an increasing correlation with the traditional markets. A buy sentiment can be spotted in the market after the release of the latest US CPI data.

The US inflation rate came out to be higher than expected. As per reports, the September CPI stood out to be 8.2%. Meanwhile, it was higher than the expected rate of 8.1%. However, the previous CPI rate was recorded to be 8.3%.

The cumulative crypto market is up by 3.5% over the past day.

Cryptocurrency News Live Updates



Bitcoin prices surge by 5%

Bitcoin, the world’s largest crypto price has jumped by more than 5% in the last 24 hours. BTC is trading at an average price of $19,677, at the press time. This surge came after the release of the inflation data.


GTA to support crypto?

All kinds of rumors have been spread all over the internet alleging that much anticipated game GTA 6 will be supporting crypto as a reward system. However, if this turns out to be true then will be another boost for the crypto industry.


Justin Sun adds Millions of Huobi Token

Tron founder Justin Sun declared that he is holding tens of millions of Huobi tokens. As per reports, 74 million HT tokens were transferred from the two official wallets to two new addresses on October 13. Huobi token prices are up by 80% in the last 7 days.


Binance announces $500 million miner project

The world’s largest crypto exchange laid out the plan to help the crypto mining community. The Binance Pool declared that it will be launching a $500 million miner lending project in order to support BTC mining and other projects.


US Inflation data and Bitcoin price

Bitcoin Prices have jumped by 3.5% in the last 24 hours despite recording a higher inflation rate than expected.

BTC is trading at an average price of $19.6K. However, September’s inflation rate is calculated to be 8.2% which is higher than the expected rate of 8.1%.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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