Ethereum and the broader crypto market jumped - Capital Street FX

 

ETHEREUM AND THE BROADER CRYPTO MARKET JUMPED AFTER THE LATEST CPI REPORT INDICATED THAT INFLATION IS COOLING.

Ether (ETH) rallied 6.3% to $1,350, mimicking a similar failed attempt that took place on Nov. 10. Despite reaching the highest level in 33 days, the gains were not enough to instill confidence in traders according to two key derivatives metrics.

The market’s largest two cryptocurrencies in Bitcoin and Ethereum have both enjoyed mild gains on the heels of the latest Consumer Price Index (CPI) report.

Insofar as these figures report on the extent of inflation in the American economy, the Federal Reserve usually reacts by raising or lowering interest rates.


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