US Government Moves Silk Road BTC and Starknet Implements Upgrade

Crypto markets had a volatile morning, initially rallying off a cooler-than-expected CPI print of 0.2% (est. 0.295%) and Core CPI of 0.2% (est: 0.3%). According to data from the Bureau of Labor Statistics, this is the slowest rate in more than two years. Shortly after the CPI release, an on-chain wallet of the US Government containing bitcoin from the Silk Road Hack was seen transferring 9,000 Bitcoin, potentially to sell it. This shook the crypto market and caused crypto prices to drop sharply. At the time of writing, BTC is down 0.55%, and ETH is up 0.48%. Altcoins are also up across the board, with Chinese-based Layer 1 protocol CFX being a particular standout, up 9.28% after an announcement that China is testing SIM card NFC payments for the digital yuan. Traditional markets have rallied post-CPI as well –SPX and NDQ are up 0.86% and 1.29%, respectively.