Crypto Mixed as Inflation Jitters Weigh on Markets
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Major cryptocurrencies traded mixed on Thursday as CPI rose 0.4% in September, exceeding estimates.
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On a year-over-year basis, CPI increased 3.7% in September, reflecting ongoing inflation.
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The global crypto market cap stands at $1.05 trillion, down 1.74% in 24 hours.
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Stocks dropped on concerns over rising yields and inflation data. S&P 500 fell 0.62%, Nasdaq 0.63%.
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Analysts say Bitcoin lacks strength, with upward momentum ending. Altcoins not moving much on Bitcoin's drop.
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Ethereum discussion rate spiked in late September, with increased movement of previously inactive ETH.