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Blogs > Crypto in a Minute > Green Bounce Ahead Of Inflation Week >

Green Bounce Ahead Of Inflation Week

Author: Jeffrey Craig Date: 2022-07-08 02:37:38

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Main Takeaway: Ending The Work Week Strong

On Thursday the US equity markets saw a multiple percentage point increase, and this had a similar impact on the crypto markets. As a result, the crypto markets are now up over 5%, and subsequently, Bitcoin is trading at $22,000, Ethereum at $1,250, and all other coins up by around 3% to 5%. This movement is a breath of fresh air, however, it may not last long because next week the United States will post inflation numbers and announce new Fed interest rate hikes. So this news may quell this market bliss going on at the moment.

This is all happening on the heels of Voyager’s bankruptcy. Interestingly, however, CoinTelegraph reported that 55% of crypto investors are HODLing their crypto, as opposed to 8% that are selling. This mainly refers to retail, which may realize that the current capitulation happening is a result of Luna Foundation, 3AC, and other lenders going down under.

Today’s Top Gainers

The market is close to approaching the treasured $1 trillion milestone – and with that, the day’s top gainers on Phemex are Verse (STPT/USDT), Rally (RLY/USDT), SelfKey (KEY/USDT), Mantra Dao (OM/USDT), and Lido Dao (LDO/USDT).


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