Bitcoin (BTC) started to fall sharply ahead of the US Consumer Price Index (CPI) data to be announced today. Experts think that Bitcoin is pricing in data that is critical to the cryptocurrency market and is thought to be negative.
According to CoinGecko data, in the last 7-day period 20,500 dollar reaching its peak and then falling bitcoincontinues its decline before the critical data that is important for the cryptocurrency market. In the last 24 hour period 2.6% depreciated bitcoinat the time the news was written $18,650traded from.
While experts interpret the decline in Bitcoin as US inflation data, which is expected to be announced negatively, it is priced in. In the dominance of Bitcoin (BTC.D) is also increasing. BTC.D, 41.83% has risen to levels.
In the 10 most valuable cryptocurrencies by market value, with the increase in dominance, more decreases were seen in the last 24 hours compared to Bitcoin. Ethereum (ETH) down 4.2% 1,245, BNB (BNB) down 3.3% 262, Ripple (XRP) down 7.1% 0.455, Cardano (ADA) down 8.2% 0.361, Left (LEFT) down 7.6% 28.8 and Polkadot (DOT) down 5.6% $5.87traded from.
Bitcoin’s total market cap $357 billionif the total value of the cryptocurrency market 925 billion dollars watching levels.
with Turkey time today 15:30will be announced in September bear US CPI data on an annual basis for 8.1%′There is an expectation.
The latest situation in Bitcoin before the US inflation data
about 2 months $22,000 Bitcoin, which is below the levels at $18,500 levels is on support. It is thought that if Bitcoin closes below these levels, it will seek new bottoms.
of bitcoin 18,000 dollarsIn the scenario where it is permanent, 14,000-16,000 It is estimated that there will be a decrease of up to $.
If the inflation data to be announced today are positive, Bitcoin is expected to rise. If Bitcoin goes up 21,800 and 25,000 may receive a reaction from dollar levels.