Crypto majors have slipped up to 14% in the last 24 hours while Monday selling on Tuesday in the middle of the generally lowering feeling and the lack of exploitable catalysts that could help support the market.
Solana’s soil dropped by 14% – bearing 7 -day losses to more than 20% – while Dogecoin (DOGE), XRP (XRP) and Ether (ETH) fell by more than 8%. Bitcoin has lost the level of $ 92,000 for the first time since the end of November, threatening a potential break in consolidation of several weeks between $ 90,000 and $ 110,000
The overall market capitalization fell by 6.6%, while the wide Coindesk 20 (CD20), a liquid index, depending on the largest tokens, fell by more than 7%.
Merchants said the current lowered feeling could be exaggerated and macroeconomic decisions were essential to support market growth.
“Bitcoin, Ethereum and Solana should not be negotiated as far below their peaks of all time,” said Jeff Mei, COO at Crypto Exchange BTSE, in a telegram message. “On the American side, inflation problems and a break in the Fed rate drops have lowered the markets, but that could change because low economic data published last week could encourage the Fed officials to take D ‘Other measures. “
Augustine Fan, responsible for information at Signalplus, reflected the feeling: “The account of the” slowdown “will probably dominate the short -term story, with actions and obligations that are traditional in positive tandem with a correlation approaching the summits of the last 12 months . “
Fan explained that “bad data is now good” once again, while the markets refocus their attention on the Fed is dripping and providing tail winds with gold and BTC in the near future.
The data published at the beginning of the month showed that the largely watched consumer price index (IPC) jumped 0.5% per month signs of government intervention to stimulate the economy.
The American IPC measures the average change over time of prices paid by urban consumers for a basket of consumer goods and services. Changes in IPC readings tend to have an impact on Bitcoin and the wider market of cryptography, as investors consider the asset class as coverage against inflation.