Bitcoin, Ethereum, Dogecoin Crash After ‘Scorching’ Inflation Data: Analyst Says ‘Writing Was On The Chart’

Bitcoin and Ethereum traded sharply lower Tuesday evening as the global cryptocurrency market cap plunged 7.5% to $986.4 billion at 8:26 p.m. EDT. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) -9.7% 7.2% $20,217.87 Ethereum (CRYPTO: ETH) -7.8% 0.9% $1,577.62 Dogecoin (CRYPTO: DOGE) -6.3% 1.5% $0.06 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Terra Classic (LUNC) +21.8% $0.00036 TerraClassicUSD (USTC) +6.3% $0.04 Terra (LUNA) +5.2% ​​$4.23 See Also: How To Get Free NFTs Why It Matters: Major cryptocurrencies dropped after the U.S. Labor Department posted the inflation numbers for August, which indicated the consumer price index rose 8.3% year-over-year.