A week highlighted by the release of a disappointing inflation report and other discouraging economic indicators ultimately did little to stir bitcoin from its narrow price range of the past few weeks.
Daily trading volume for the largest crypto by market capitalization has trailed its 20-day moving average for nine of the last 10 trading days. The exception occurred on Thursday, largely driven by market reaction to the Consumer Price Index report.was recently trading at about $19,300, roughly flat over the previous 24 hours and about where it stood at the beginning of the week.
The top altcoin gainers recently were Alchemy Pay’s ACH token and SushiSwap’s SUSHI, which rose 39% and 15%, respectively, while NuCypher’s NU had the toughest day, declining 24.4%Financial market participants were scrutinizing Thursday’s inflation report, which showed September prices rose 8.2% year over year versus expectations of 8.1%. Markets reacted negatively initially before regaining lost ground to end the day slightly higher.
U.S retail spending was unchanged for September versus expectations for a 0.2% increase. The unexpectedly low figure reflected lower demand, a result of rising costs. In traditional financial markets, U.S. equities' seven-day performance was mixed, as the S&P 500 and Nasdaq Composite declined 1% and 2.7%, respectively. The Dow Jones Industrial Average finished the week up 1.5%.
Source: News Formal (newsformal.com)
GWilliamsJr_CMT _jocelynyang_ I continue to actively spend usdt to buy bitcoin
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