Cryptocurrency markets have calmed down after a price surge on Tuesday as investors await an important announcement from the US. Bitcoin, the largest crypto by market capitalization, has been trading around $30,000 for the past several hours. Most altcoins have seen a slight pullback, with Ethereum now priced below $1,900, and Binance Coin below $320. However, Solana continues to defy the downward market trend, surging 5.5% and trading above $23.
Today's significant announcement is the US Consumer Price Index (CPI). Traders are watching this closely as the CPI is used to measure the average cost of essential household items. Additionally, Ethereum will attempt to complete its Shippola upgrade, which may affect its price.
At present, the market capitalization of all crypto assets is over $1.2 trillion, with Bitcoin accounting for 47.5% of it. All in all, these events could affect the market significantly, with investors eagerly awaiting the outcome of these forthcoming events.
Adriana Parker
- 2023-04-12
Crypto Markets await US CPI After Tuesday's Price Surge
Cryptocurrency markets have calmed down after a price surge on Tuesday as investors await an important announcement from the US. Bitcoin, Ethereum, Binance Coin and Solana could be impacted by a US Consumer Price Index (CPI) announcement and Ethereum's Shippola upgrade.
