đ„đ„ Today in Crypto: Market Charting Red In Anticipation for CPI
đ Bitcoin (BTC) has dipped to $58,000 after a 4.8% drop over the last 24 hours. Itâs slightly below $60,000 now, recovering from a weekend low of $58,500.
đ Institutional investors have paused buying Tether (USDT), which often correlates with Bitcoinâs price, possibly contributing to BTC's recent decline.
đïž Major economic updates are coming this week: U.S. and U.K. CPI data on August 14, Japanâs PPI on August 13, and GDP data from Hong Kong and Taiwan on August 16.
đ The overall crypto market cap has dropped 4.82% in the last 24 hours, with Solana (SOL) and Toncoin (TON) seeing significant losses.
đ¶ Memecoins are also down, with Dogecoin (DOGE) falling 6%, dogwifhat (WIF) dropping 7%, and Pepe (PEPE) down 5.3%.
â ïž With market volatility high, traders should stay informed on economic updates to navigate the fluctuations.
