Crypto Market Stalls Despite Positive Inflation Data
BTC and ETH post modest gains, while other large-caps remain flat on the day.
The cryptocurrency market remained flat on Friday, May 16, following the release of positive macroeconomic data that pointed to easing inflation earlier this week.
Bitcoin (BTC) increased 1% on the day to just under $104,000, trading flat on the week. Ethereum (ETH) grew 2% to $2,589, adding slightly to a strong week following its notable gains since the Pectra upgrade last week.
Solana (SOL) remained flat on the day at $172, while XRP is down a mild 1.5% at around $2.42.
The total cryptocurrency market capitalization is up by just 0.2% on the day, settling at around $3.45 trillion.
Meanwhile, leveraged liquidations…
