UNI, MATIC and AAVE surge after Bitcoin price bounces back above $20K
— Volume, Tradingview, Bounces, Source, Matic, Trading, Market, Surge, High, Aave — 1 min read
Consumer Price Index (CPI) posted a June print of 9.1%, its highest level since 1981. Biggest gainers over the past 24-hours were Uniswap (UNI), Polygon (MATIC) and Aave (AAVE) The overall cryptocurrency market cap now stands at $927 billion and Bitcoin’s dominance rate is 42.6% The move higher in the market wasn’t entirely unexpected for seasoned traders who have become familiar with a one to two-day bounce in asset prices following the most recent CPI prints. However, the bounces have typically been followed by more downside once people realize that the high inflation print is a negative development, such as the high price print is negative. Source