Bitcoin, Ethereum Staging Short Cover Rally Before US CPI Inflation Data

Quick Summary:

Bitcoin and the broader cryptocurrency market have bounced back again with the BTC price moving closer to $60,000 as the US CPI inflation data for July comes out ahead this week on August 15.

With altcoins more prone to macro events, Ethereum and other altcoins have staged even stronger rallies gaining over 4%.

In the last 24 hours, more than $177 million have been liquidated with $91 million in short liquidations and nearly $86 million in long liquidations.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: Bitcoin News CPI data Bitcoin (BTC) Price 24/7 Cryptocurrency News US CPI Ethereum (ETH)

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-13 @ 05:50:18 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 386 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22057872

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

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News Last Updated: 8 hours ago

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