Although the cryptocurrency market has been stagnant in recent days and prices haven’t changed much, Bitcoin (BTC) has seen the day with a drop. Cryptocurrency market cap has dropped 3.74% in the last 24 hours. So what’s the latest on Bitcoin (BTC), Ethereum (ETH) and XRP?
We will see together how the US Consumer Price Index (CPI) data, which will be announced at 15.30 Turkish time, will affect the market. The annual CPI expectation is at the level of 8.7 percent. At this point, it is useful to be cautious as the volatility in the crypto money market will be high during the hours when the data will be released.
Latest Situation in Bitcoin (BTC)
Bitcoin (BTC) started today with a decrease of 3.8 percent as of the time of writing. The effect of the US CPI data on the markets may also indirectly affect the crypto markets. The fact that it is above the annual expectation may cause the FED to take decisive and even more drastic steps in the policy of increasing interest rates. For this reason, we see instant sales in the markets.
Bitcoin’s 4-hour chartBitcoin continues on its way without major changes in price within its channel and is traded at $ 22,910.
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Latest Situation on Ethereum (ETH)
Ethereum (ETH) continues to follow the same path as Bitcoin. Ethereum also started the day with a 5.1 percent decrease as of the moment of writing.
Ethereum’s 4-hour chartEthereum, like Bitcoin, has moved away from the lower $1,000 level, but is not in a position to push the upper $1,500k resistance. It continues its movement as of the band it is in.
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Latest Situation in Ripple (XRP)
Ripple, the 7th coin with the largest volume in the market, also started the day by falling. Ripple, which has dropped 3.8 percent as of now, has been affected by the stagnant news flow in the market.
Ripple’s 4-hour chartThe strongest support in Ripple is currently $0.3, the region where price movements are made. Another support below here is the $0.2 level. One upper resist. and the level of 0.8 dollars. Ripple will also be affected by the news and data in the market. Ripple, like Bitcoin and Ethereum, dominates a sluggish and stagnant course.
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