Bitcoin back above $81,000 after hot CPI print, BNB, DOGE lead majors gains
Key takeaways
- BTC recovered to $81,208 by Asian morning Wednesday, ending the session up 0.3% over 24 hours after trading a $1,400 range.
- Among the majors, BNB led with a 2.5% gain to $677, while dogecoin added 1.3% to $0.1114.
- The CPI print rattled traditional markets harder than crypto.
The largest cryptocurrency dropped to $79,879 in late U.S. hours Tuesday after the April Consumer Price Index came in at 3.8% year-over-year, hotter than economists had estimated, with gasoline prices doing most of the lift since the Iran war began. BTC recovered to $81,208 by Asian morning Wednesday, ending the session up 0.3% over 24 hours after trading a $1,400 range. The dip got bought aggressively.
Among the majors, BNB led with a 2.5% gain to $677, while dogecoin added 1.3% to $0.1114. Ether dropped 0.3% over 24 hours to $2,300 and is now down 3.2% on the seven-day, the laggard of the cohort. Solana slipped 0.6% to $95.52. XRP traded at $1.45, down 0.5% on the day.
The CPI print rattled traditional markets harder than crypto. The S&P 500 fell 0.2% and the Nasdaq 100 dropped 0.9%, with semiconductor stocks taking the brunt of the selling after weeks of outsized gains.