Down 5%, Up 5%

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.

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).