The crypto market finished a brutal week with Bitcoin losing over 21% in value within seven days following the FTX saga.
The Market Tumbles
The Halloween party was over but its remnants are seemingly still around the corner. There’s blood all over the crypto market and the crowd panic sells for the exits.
The situation is bad given the fact that the market is valued at $841 billion at the time of writing – the lowest point since the November peak last year.
Experts predicted a difficult week for Bitcoin and other digital currencies as the U.S. Bureau of Labor would release the CPI data. And just when the market was prepared to take a storm, it was the tsunami that hit.
In fact, October’s CPI came on Thursday as a boost. The index hit 7.7%, a slight decrease from last month’s CPI of 8.2%.
While inflation in the world’s most impacted economy remains high, there are some signs of progress in efforts to combat inflation. The news…
