New Delhi: Crypto tokens were trading mixed on Thursday. Despite red hot US inflation data, Bitcoin was able to reclaim the $20,000 mark, a key psychological level.
Much in line with expectations, a high US inflation reading for June would push the Federal Reserve to get more aggressive in tightening monetary conditions to slow the consumer-price increases.
Crypto cart was trading mixed with Bitcoin, Ethereum, XRP, Solana and Polkadot rising up to a per cent, while stablecoins
The global cryptocurrency market cap was trading higher at the $897.86 billion mark, rising more than 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed more 34 per cent to $74.83 billion.
For investors, it means that the Fed continues to take strict measures to control inflation which may result in another rate hike. The high-interest rate may discourage borrowing and sellers may continue to dominate the market, he added.
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