Bitcoin hit a two-week low below $ 30,000 after the US released the latest record CPI data. Altcoin is even worse, with ETH plummeting to its lowest price level since March 2021.
Bitcoin falls again
Last week, I challenged $ 32,000 on several occasions, which made me look somewhat positive about the primary cryptocurrency. In one attempt, BTC surpassed that level and hit a record high of $ 32,400 in a few weeks.
However, the bear stepped up every turn and did not allow the increase.In the end, they BTC down Assets to $ 30,000 spent the last two days.
at this point, US Consumer Price Index ReleasedShows a new 40-year record for inflation – an increase of 8.6% year-on-year. As in the previous example, news has led to increased volatility in the crypto market, with BTC falling by more than $ 1,000 per hour.
Below $ 29,000 marked the new lowest level since the end of May. For now, BTC stands just above that border. Its market capitalization has dropped to $ 560 billion, but its advantage over alternatives is up to 46.7%.
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ETH sees the lowest of the year
With the exception of LEO, which is now slightly green, I haven’t enjoyed the rest of Altcoin for the past 24 hours.
Ethereum is one of the biggest losers, declining by 7% per day. As a result, ETH was below $ 1,700, the lowest price since March 2021 at around $ 1,650 (bitstamp).
Solana, Avalanche, and MATIC all lose similar percentages from low cap alt. Ripple, Cardano, Dogecoin, Polkadot, TRON and Shiba Inu are also in the red.
It’s no wonder that the market capitalization of cryptocurrencies has fallen by $ 60 billion a day and is now below $ 1.2 trillion, as low and mid-cap stocks are also retroactive.
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Cryptocurrency chart According to TradingView.