UNI, MATIC and AAVE surge after Bitcoin price bounces back above $20K

2022.07.15 16:06

UNI, MATIC and AAVE surge after Bitcoin price bounces back above $20K

Crypto investors found cause for celebration on July 14 as the market experienced a positive trading session just one day after the Consumer Price Index (CPI) posted a June print of 9.1%, its highest level since 1981.

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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. These traders also know there’s nothing to get too excited about as the bounces have typically been followed by more downside once people realize that the high inflation print is a negative development.

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