If you blinked you missed it. bitcon's surge above $30K yesterday lasted for only a handful of minutes before reversing and trading back down to $29.4K.
) slipped all the way back to $29,440 in Wednesday action, marking another instance in what's become a long series of attempts to break and hold above the $30,000 level.CoinDesk Market Index The selling came ahead of Thursday morning's Consumer Price Index report for July. It's expected to show a rise in year-over-year headline inflation to 3.3%. The core rate is seen slipping to 4.7% from 4.8%.
Stocks were nervous in front of the inflation numbers as well, with the Nasdaq declining 1.2% and the S&P 500 0.7%.Even with most of the cryptocurrency market lit up red on Wednesday, there were a number of gainers in the altcoin sector. Among them were XRP, LINK and OKB, each with advances in the 2%-3% range. Aptos' APT was the day's largest gainer among those tokens with sizable market caps, surging 10.7%shows just how illiquid the crypto market is, and thus vulnerable to pricing swings.Outflows may indicate a bullish trend as investors hold onto their assets securely, signaling a belief that prices are likely to increase.shows that the amount of ether on exchanges is 15,110,327.
, suggesting a strong cohort of hodlers that aren’t budging. Data suggests that as the balance on exchanges somewhat increases, the circulating supply last moved between 7 and 10 years ago slightly decreases, and vice versa. Disclaimer: This article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see our
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