Cryptocurrencies continued to languish at three-week lows as rampant inflation in the UK added to ongoing concerns over the health of the global economy.
Bitcoin edged just 0.3% higher to US$40,134, but still held above the key $40,000 support level. Closest rival by market value Ethereum advanced 1.5% to US$3,058.
UK data released today revealed inflation surged to its highest since 1992, adding to news yesterday prices in the US climbed to a 40-year high.
Despite the economic woes, 82 of the leading 100 coins traded in the green on Wednesday morning.
Doggy meme-coin Shiba Inu and fourth-largest crypto BNB were the biggest of the ‘top 20’ risers, gaining 19.4% and 3.5% respectively.
Monero and Waves were the most notable fallers, down 3.8% and 8.1% respectively.