CandleFocus Crypto market looks bearish ahead of CPI report, BTC at $60k
2024-10-10
Author: Content Editor
The cryptocurrency market experienced a decline in its market capitalization by 3.3% in the last 24 hours, with the trading volume remaining stagnant. Bitcoin dropped below $61,000 and is currently trading at around $60,800. Whale transactions involving large amounts of BTC decreased, indicating market uncertainty or retail trader sell-off. The BTC funding rate saw a surge, suggesting bullish bets on Bitcoin's price movement. However, if the price falls below $60,000, increased liquidations and further correction could occur. The U.S. Consumer Price Index report is expected to be released, and a drop in inflation could lead to bullish momentum in the crypto market.
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