CandleFocus XRP, APT, ADA Tumble Another 15%; Investors May Be Paring Longs Ahead of CPI Data
2024-12-10
Author: Content Editor
Cryptocurrencies experienced a decline on Tuesday, with altcoins such as XRP, Polkadot, Litecoin, Aptos, and Cardano experiencing significant losses. The CoinDesk 20 index, which tracks the top 20 cryptocurrencies by market capitalization, fell by almost 10%. Bitcoin performed relatively well compared to other cryptocurrencies, only decreasing by 3% in the past 24 hours, while other coins saw double-digit percentage declines. The sell-off is a result of a month-long rally in crypto prices following the US election, and may also be in anticipation of inflation data to be released on Wednesday. Bitcoin's market cap dominance reached its highest level since November, indicating a shift in investment towards BTC.
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