ETH, BTC Fall to Multi-Week Lows, Following US Inflation Data – Market Updates Bitcoin News
Ethereum fell below $1,800 in todays session, as markets continued to react to the latest U.S. consumer price index. Inflation in the United States fell to 4.9% in April, less than the 5% sum many had expected. Bitcoin was also lower on the data, falling below $27,000. Bitcoin Bitcoin (BTC) briefly dropped below $27,000 late on Wednesday, as markets reacted to the latest U.S. inflation report. After an earlier high of $28,322.69, BTC/USD slipped to an intraday low of $26,883.67 towards the close of yesterdays session. This move saw bitcoin drop to its weakest point since March 28, when price was at a low of $26,640. BTC / USD - Daily Chart Since this earlier decline in price, BTC has since rebounded, and is currently trading at $27,494.24. From the chart, this appears to be due to the relative strength index (RSI), which is now tracking at 41.91, and close to reentering a floor at 43.00. Should this occur, there is a strong possibility that the worlds largest cryptocurrency could be back above $28,000. Ethereum Additionally, ethereum (ETH) also fell to a multi-week low in todays session, dropping below $1,800 in the process. ETH/USD slipped to a bottom at $1,795.67 late on Wednesday, following an earlier peak of $1,886.80. As a result