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Stock impact report

Crypto Rally Doesn't Hold After Soft Inflation Data [Yahoo! Finance]

BIT Mining Limited ADS (BTCM) 
Company Research Source: Yahoo! Finance
Bitcoin (BTC) is trading at $82,800, down 0.5% in the last 24 hours. The CoinDesk 20 — an index of the top 20 cryptocurrencies excluding exchange coins, stablecoins and memecoins — is lower by 0.8% in the same period of time. Pulling that broader gauge lower was ether (ETH) is the worst performing asset in the index and currently off 3.5% to roughly $1,880. At 0.022, the ETH/BTC ratio is now at the same level as it was in April 2020, right before DeFi summer brought projects such as Uniswap and MakerDao into the spotlight. The ETH/BTC ratio has plunged a staggering 67% since its all-time high in November 2021. Read more: Inflation Relief as U.S. CPI Dips to Less Than Forecast 2.8% in February “Today's lower-than-expected CPI should be bullish, signaling faster rate cuts, but crypto hasn't reacted strongly," Dr. Youwei Yang, Chief Economist at BIT Mining, told CoinDesk by email. "Weeks of market fear require more than a single good print to regain confidence." “The real issue Show less Read more
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