Latest Situation in Bitcoin and Cryptocurrencies Before US Inflation Data
While Bitcoin (BTC) is trying to stay above 58 thousand dollars with the recovery after hard sales, volatility is expected in the market with the inflation data to be announced soon.
The US Consumer Price Index (CPI) inflation data, which is expected to be 3.1% on an annual basis, will be announced today at 15.30 GMT. While the data in question is expected to bring great volatility to Bitcoin, it is thought that it will create a road map as to whether these levels will bottom or the decline will continue.
The previous inflation data was announced as 3.3%, below expectations of 3.4%, triggering a rise of $1,700 in Bitcoin. Sometime after the data, Bitcoin was released in Germany, the USA and Mt. Gox caused selling pressure and retreated to $53,500.
According to CoinGecko data, Bitcoin is trading at $58,708, up 0.3% in the last 24-hour period before US inflation data.
The latest situation in the 10 largest cryptocurrencies by market value is as follows:
Ethereum (ETH) 3,146, up 1.4%
BNBÂ (BNB)Â 535, up 1.3%
Ripple (XRP) 0.451, up 2.2%
Dogecoin (DOGE) 0.109, up 0.3%
Solana (SOL) 143, up 0.4%
Toncoin (TON) is trading at $7.19, down 2.1%.
The total market value of Bitcoin is at $1.15 trillion, and the total value of the cryptocurrency market is at $2.27 trillion.
