Prices for risky assets tumbled after the CPI release, with bitcoin falling from $22,700 to nearly $21,000. Ether, the native token of Ethereum’s blockchain, dropped from $1,760 to $1,594, in a sign of the macroeconomic development overpowering the bullish narrative surrounding that blockchain’s Merge – an expected transition this week to a more energy-efficient blockchain system.
Source: https://www.coindesk.com/markets/2022/09/13/path-forward-for-crypto-gets-tougher-after-us-cpi-report-comes-in-hot/?utm_medium=referral&utm_source=rss&utm_campaign=headlines