Major cryptocurrencies traded slightly in the green on Tuesday, following the announcement by the U.S.Bureau of Labor Statisticsthat theCPIsurged by 4%, better than the projected 4.1% and Aprilâ€s figure of 4.9%.
Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EST) |
Bitcoin (CRYPTO: BTC) | +0.14% | $25,998 |
Ethereum (CRYPTO: ETH) | +0.23% | $1,743 |
Dogecoin (CRYPTO: DOGE) | +0.63% | $0.062 |
What Happened:Bitcoin briefly showed signs of optimism as reflected in the May Consumer Price Index (CPI) released on Tuesday, which demonstrated a decline in inflation.
Despite the ongoingSecurities and Exchange Commission(SEC) lawsuits against major crypto exchangesBinanceandCoinbase, investors appeared to set aside their concerns and awaited the outcome of the latest inflation report and now Wednesdayâ€s Federal Reserve interest rate...