🔥🔥 Today in Crypto: Market Charting Red In Anticipation for CPI

📉 Bitcoin (BTC) has dipped to $58,000 after a 4.8% drop over the last 24 hours. It’s slightly below $60,000 now, recovering from a weekend low of $58,500.

📊 Institutional investors have paused buying Tether (USDT), which often correlates with Bitcoin’s price, possibly contributing to BTC's recent decline.

🗓️ Major economic updates are coming this week: U.S. and U.K. CPI data on August 14, Japan’s PPI on August 13, and GDP data from Hong Kong and Taiwan on August 16.

📉 The overall crypto market cap has dropped 4.82% in the last 24 hours, with Solana (SOL) and Toncoin (TON) seeing significant losses.

🐶 Memecoins are also down, with Dogecoin (DOGE) falling 6%, dogwifhat (WIF) dropping 7%, and Pepe (PEPE) down 5.3%.

⚠️ With market volatility high, traders should stay informed on economic updates to navigate the fluctuations.