Live updates: Soft core inflation gave crypto a bounce, but only bitcoin held up on the week
Hex37's read
- May CPI data came in higher than expected.
- Energy prices contributed to the hot inflation reading.
- Bitcoin saw a bounce, but Ether and other alts declined.
- Ether and large altcoins are down 6-8% weekly.
What it means for traders
- Bitcoin's resilience suggests it may be a safer haven asset compared to altcoins in the short term.
- The market may be cautious about further inflation, potentially leading to broader crypto weakness.
Affected markets
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