Crypto
Bitcoin Plunges to Multi-Week Low Before Rebound, Ethereum Sees New Eight-Month High
Bitcoin's price fluctuated wildly on Friday after the release of August's Consumer Price Index (CPI) data. The cryptocurrency started the day at around $79,600 but fell to a multi-week low of $76,000 before rebounding by nearly $4,000 to $79,800.
However, this price surge was short-lived as Bitcoin slumped back down to its starting point at just over $77,000. This marks the end of a tumultuous week for BTC, which saw it rejected at over $80,000 on Monday and unable to regain that level throughout the following days.
Ethereum, on the other hand, emerged as the top gainer yesterday during the post-CPI rally. It skyrocketed from $2,440 to a new eight-month high of $2,670 before being driven south to just over $2,500 as of now.