All cryptocurrencies fell amid record inflation in the United States
All major cryptocurrencies have fallen amid high inflation in the United States.
Ethereum fell to $1436 the day before. During the day, the situation worsened. At the time of writing, the cost of ETH is less than $1250. In 24 hours the price of cryptocurrency fell by almost 16%, and in a week the currency fell by more than a third (35%).
Bitcoin is also not far behind. The first, as well as the most expensive and popular cryptocurrency, is already worth less than $24,364. The last time the asset was traded at below $25,000 in December 2020. Capitalization fell to $462.6 billion. Recently, the asset fell by 11.7%, and for the week – by 22.5%.
The reason for all this, according to Bloomberg, are new statements from the US Federal Bureau of Labor Statistics. According to the agency, the consumer price index in May 2022 compared to May 2021 increased by 8.6%. This is the worst figure since 1981.
