Bitcoin Declines Ahead of Consumer Price Index Release
Major cryptocurrencies experienced declines on Monday as investors prepared for potential inflation increases.
This article has been summarized and translated using AI to help you practice reading and comprehension. While we strive for accuracy, some nuances may be lost in translation.
Cryptocurrency markets showed volatility on Monday, with major digital assets declining before the Consumer Price Index report. Bitcoin fell to $118,905.51, dropping 0.20% after reaching over $122,000 on Sunday. Ethereum fluctuated between $4,350 and $4,168.87.
The market saw significant liquidations totaling over $550 million in 24 hours, with $357 million from long positions. Despite this, the global crypto market cap reached $3.98 trillion, growing 1.19%. Trading sentiment was mixed, with the Fear & Greed Index showing weakness.
Notable performers included Ethena (+9.22%) and Raydium (+8.95%). Investors are anticipating Tuesday's CPI report, which economists expect to show continued monthly increases.
Analyst Ted Pillows remains optimistic about Ethereum, predicting a $10,000 target by 2025, while Michaël van de Poppe suggests further Bitcoin declines may occur.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/08/47049002/bitcoin-dips-ahead-of-cpi-release-ethereum-dogecoin-also-slide-analyst-calls-eth-the-fastes