• Bitcoin’s price dropped to a two-month low, before recovering over a grand.
• Altcoins experienced gains, with LDO leading the charge with a double-digit surge.
• The cause of the BTC tumble was news that US inflation rates had slowed down.
BTC Drops to Two-Month Low
Bitcoin’s prices have been volatile in the past 24 hours, dropping to a two-month low before recovering slightly over $1,000. The US CPI numbers for April revealed that inflation rates had slowed down, which caused Bitcoin’s price to fall and created further volatility.
Altcoin Surge Led by LDO
The altcoins are in the green today, with LDO leading the charge with a massive double-digit price surge. Other notable gainers from the larger-cap alts include Solana, NEAR and ApeCoin.
US Inflation Rate Slowed Down
The major news from last week came when the US CPI numbers for April informed that the inflation rates had slowed down and were lower than expected. This spurred volatility in Bitcoin’s prices as it initially rose above $28K before eventually dropping back down below $26K.
As we enter into this weekend watch period there is potential for more movement as Bitcoin looks to recover from its recent losses and find some stability at around $27K again. Altcoins could also continue their momentum if they find support in their current positions or show further growth depending on market events throughout this period.
This has been an interesting past few days for cryptocurrencies as we saw both highs and lows being charted across multiple assets simultaneously – culminating in BTC hitting new two-month lows late last night and other altcoins experiencing sizeable gains earlier today thanks to LDO’s 13% surge. We will be watching carefully what happens next as we enter into this weekend watch period – so stay tuned!