Cryptocurrency prices on June 13: Bitcoin trades flat after hitting $70K mark post Fed outcome
As of 12:58 am IST, Bitcoin was trading 0.5% higher at $67,673, while Ethereum dropped 0.4% to $3,504.
«In the last 24 hours, the crypto market experienced volatility following the release of CPI data, which came in lower than expected. This initially led to a market pump, but prices soon retraced after the FOMC announcement that the Fed's fund rate would remain constant,» said CoinDCX Research Team.
Inflation in the United States eased in May for the second consecutive month. Consumer prices, excluding volatile food and energy costs — the closely watched core index — rose 0.2% from April to May, the government reported Wednesday.
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View Details»That figure was down from 0.3% the previous month and marked the smallest increase since October. Compared to a year earlier, core prices climbed 3.4%, below last month’s 3.6% rise, marking the mildest increase in three years.
However, investors were whipsawed later as Fed officials trimmed projections for interest rate reductions this year to a single quarter-point cut.
In his post-meeting press
