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Blogs > Crypto in a Minute > Down 5%, Up 5% >

Down 5%, Up 5%

Author: Jeffrey Craig Date: 2022-10-14 02:43:30

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october-14-daily-update

Main Takeaway: Markets Down & Up

US inflation numbers came in at 8.2%, which was higher than expected. Immediately after, markets experienced a rapid selloff, but about two hours later, markets suddenly reversed and put in a +3% gain d-o-d. It was one of the few times the markets crashed by over 3%, suddenly reversing all the losses, and ending the day in the green. This means that it could be a bear market rally, or that the inflation numbers were already priced in.

S&P500 October Volatile Post Inflation

Today’s Top Gainers

The top five performing coins on Phemex d-o-d are Sushi (SUSHI/USDT), Alchemy Pay (ACH/USDT), Ethereum Name Service (ENS/USDT), Voyager (VGX/USDT), and Celsius (CEL/USDT).


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