Crypto Majors slipped up to 14% in the last 24 hours when a Monday sale extended until Tuesday in the middle of a generally bassist feeling and the lack of processable catalysts that can help support the market.
The sun of Solana fell by 14%, bringing losses from 7 days to more than 20%, while Dogecoin (Doge), XRP (XRP) and Ethher (ETH) fell more than 8%. Bitcoin lost the level of $ 92,000 for the first time since the end of November, threatening a possible downward break of the consolidation of several weeks between $ 90,000 and $ 110,000
The general market capitalization fell 6.6%, while Coendesk 20 (CD20) of broad base (CD20), a liquid index that tracks the largest tokens, fell more than 7%.
Merchants said the current bassist feeling could be exaggerated and that macroeconomic decisions were key to support market growth.
“Bitcoin, Ethereum and Solana should not be trading so below their maximums of all time,” said Jeff Mei, Crypto Exchange Btse operations, in a Telegram message. “On the United States side, inflation concerns and a pause in the cuts of the Fed fees have kept the markets low, but this could change since the weak economic data published last week could stimulate officials of the Fed to take more measures. “
Augustine Fan, head of ideas in Signalplus, reflected the feeling: “The narrative of ‘deceleration’ will probably dominate the narration in the short term, with actions and bonds that are marketed in positive tandem with a correlation approaching the maximums of the last 12 months “
Fan explained that the “bad data is now good” once again, since the markets again focus their attention on the facilities fed and provide tail winds both to gold and BTC in the near future.
The data published earlier this month showed that the consumer price index (CPI) widely seen increased 0.5% month by month in January, much more than the expected gain of 0.3%, sending investors to prefer cash positions or risk bets until signs of government intervention are clarified to boost the economy.
The US CPI. Uu. It measures the average change over time in prices paid by urban consumers by a market basket for consumer goods and services. Changes in CPI readings tend to affect Bitcoin, and the broader cryptography market, since investors see the kind of assets such as inflation coverage.
