The crypto market is experiencing great fluctuations before the US PCE inflation data. Bitcoin touched 106 thousand dollars for a short time, but then declined. Ethereum and Altcoins are also followed by an uncertain direction. What is the reason for this volatility in the market?
Leader Crypto Money Bitcoin is fluctuating: reached 106 thousand dollars
Bitcoin (BTC) exhibited great movements in the last 24 hours. The price increased to 106 thousand dollars during the day, but then retreated to 104 thousand dollars. The uncertainty dominating the market is based on PCE inflation data to be announced in the USA.
These data will provide clues about the US Federal Reserve (FED) interest policies. Interest reduction expectation can activate the crypto market. However, for now, investors are cautious. Bitcoin’s futures operations fell by 2 %to 64.91 billion dollars.
Ethereum, XRP and Solana
Ethereum (ETH) price increased by 0.5 %during the day reached $ 3,227. The 24 -hour movement range took place between 3,179 and $ 3,282. According to the leading crypto analyst Ali Martinez, whales bought large amounts of Ethereum. Approximately 100 thousand ETHs were collected in the last decline. This shows that investor confidence has increased and a potential rise is at the door.
XRP lost 1 %in the last 24 hours and fell to $ 3.09. For a long time, consolidated $ 3, indicates that a big break is approaching. Solana (left) decreased by 2 %to $ 235. The lowest price during the day was 235.39 dollars and the highest price was 244.33 dollars. SOL’s movements continue in parallel with the general market trend.
The most winning and losing crypto currencies of the day
Some subcoins managed to rise despite the overall market decline. Here are the most winners:
- JASMYCOIN (JASMY):0.03261 dollars with an increase of 30 %
- Dexe (Dexe):20.48 dollars with an increase of 21 %
- Arweave (AR):15.76 dollars with an increase of 18 %
The most losers are as follows:
- Trump (Trump):25.50 dollars with 9 %decrease
- Jupiter (JUP):1.04 dollars with 8 %loss
- Pudgy Penguins (Pengu):0.01419 dollars with 7 %decrease
Latest Situation in the Crypto Money Market: Waiting continues
The crypto market is tense due to the upcoming US PCE inflation data. The global market value was fixed to $ 3.5 trillion, while the daily transaction volume decreased by 16 %and decreased to 105 billion dollars.
According to the famous analyst Michaël Van de Poppe, the FED can make changes to interest policies throughout the year. The eyes are now turned into data to be announced on Friday. Big movements for the crypto market can be at the door! Poppe said in a statement:
We can see multiple interest rate cuts, weakened dollars and a strong Bitcoin rally.
