Despite the U.S. consumer price index (CPI) falling short of market expectations, cryptocurrency prices are showing mixed trends.
As of 7 a.m. on the 13th, Bitcoin is priced at $83,197, up 0.07% from 24 hours ago on the global coin market tracking site CoinMarketCap.
Ethereum, ranked second by market capitalization, is trading at $1,895, down 2.46%.
Ripple, ranked fourth by market capitalization, is priced at $2.22, up 1.16%. On this day, Ripple is being traded between a high of $2.26 and a low of $2.14.
Generally, a decline in CPI increases the possibility of interest rate cuts, which is favorable for the cryptocurrency market; however, there has been little reaction on this day.
In contrast, the U.S. stock market rallied across the board, except for the Dow, with the Nasdaq rising over 1%.