Why did the market fall?

Bitcoin led the market down 3.8% ahead of the release of U.S. CPI data, triggering a $200 million sell-off on Binance. Analysts predict a possible short squeeze and altcoin decline. Uncertainty in the market and higher-than-expected CPI data led to a sell-off in the market, especially in altcoins like Cardano, Dogwifhat, and Notcoin. After the CPI data is released, market supply pressure may ease, providing opportunities for asset rebounds.

Focus

Higher-than-expected CPI data: typically leads to a sell-off in the cryptocurrency market as people fear aggressive interest rate hikes. Bitcoin trend: Bitcoin tends to fall before the CPI announcement and may reverse later. Cardano: Price fell below the symmetrical triangle support line, possibly extending the downtrend. Dogwifhat: Prices have corrected significantly over the past two weeks and may lose support. Notcoin: Price retreated 47% from resistance and may fall further. After the release of CPI data: Market supply pressure may ease, providing opportunities for asset rebound.