Bitcoin sinks by 10%, Ether loses more than 7%
The prices of cryptocurrencies continued to score losses on Tuesday after the report on the United States' annual inflation unveiled that the figure landed at 8.3% in August, a slightly higher level than analysts expected. The same document showed a rise in the prices of energy by 23.8%.
Meanwhile, the markets in the US also responded to the possibility the Federal Reserve will raise interest rates even more to combat the rising trend in inflation, with the Dow Jones Industrial Average plunging by more than 1,000 points.
Bitcoin plummeted by 10.04% at 3:17 pm ET to sell for $20,150.726. A minute later, Ether decreased by 7.63% to go for $1,585.8731.