Bitcoin Struggles After Inflation Report;  California’s crypto bill is an overreach, legal experts say

Bitcoin Struggles After Inflation Report; California’s crypto bill is an overreach, legal experts say

Ether, the second largest cryptocurrency by market value, followed a similar pattern and changed hands below $1,600, down roughly 6% from the day before as inflation worries outweighed the excitement of Merge. The merger, the transition of the Ethereum blockchain from the slower, more energy-intensive proof-of-work protocol to proof-of-stake, is set to happen on Thursday, although recent ETH activity, even before the disappointing CPI, suggested that most there have already been significant price increases.



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