Why Did Bitcoin, Ethereum, XRP, Dogecoin Flip Bearish Ahead Of The CPI Inflation Data Release?
Cryptocurrency markets are trading lower on Tuesday morning as fears of whales taking profits grip influence sentiment.Cryptocurrency
Ticker
Price
Bitcoin
(CRYPTO: BTC)
$116,541.21
Ethereum
(CRYPTO: ETH)
$2,967.12
Solana
(CRYPTO: SOL)
$159.25
XRP
(CRYPTO: XRP)
$2.90
Dogecoin
(CRYPTO: DOGE)
$0.1912
Shiba Inu
(CRYPTO: SHIB)
$0.00001294
Notable Statistics:
IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 141.1% and 235.9%, respectively. Daily active addresses grew by 28.3% and declined 11.1%, respectively.
Coinglass data shows 125,044 traders were liquidated in the past 24 hours for $458.86 million.
SoSoValue data shows net inflows of $297.4 million into spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $259 million.
Trader Notes: Crypto chart analyst highlighted a recurring pattern: when Bitcoin dips ahead of CPI or PPI data, it often rebounds strongly once the data drops and vice versa. Traders are watching this setup closely.
Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Crypto trader Posty says BTC is either bottoming now or may dip toward $113,000, a level many expect to be a strong bid zone.
Since expectations are aligned, he cautions that the bounce might come earlier than most think, leaving many sidelined in disbelief. He adds that sideways price action here would favor altcoins.
Ted Pillows, partner at OKX, sees Ethereum showing relative strength despite the broader pullback. "I'm longing pullbacks on," he noted, predicting $4,000 for the altcoin.Crypto trader Jelle confirmed that XRP has officially broken out of its range, and with its ETF now approved for trading, he expects the momentum to carry XRP even higher.Crypto Yapper says Solana is bouncing off key weekly support, suggesting a possible market bottom. A new all-time high could be near if support holds and momentum builds.
For Dogecoin, Ali Martinez noted that the TD Sequential indicator on the hourly chart is flashing a buy signal, pointing to a potential short-term rebound after recent weakness.
Read Next:
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This article Why Did Bitcoin, Ethereum, XRP, Dogecoin Flip Bearish Ahead Of The CPI Inflation Data Release? originally appeared on Benzinga.com
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