Crypto markets experienced a 3% decline in the past 24 hours as traders eagerly await the U.S. consumer price index (CPI) readings, with the hope that a potential dollar slide may lead to a rise in cryptocurrency prices. Bitcoin (BTC) and major altcoins like ether (ETH), Solana’s SOL, Cardano’s ADA, and XRP all recorded losses, while dogecoin (DOGE) experienced the most significant decline of 4.5%. On the other hand, BNB Chain’s BNB saw a 1% increase due to renewed interest in the blockchain's ecosystem. Changes in the CPI tend to impact the crypto market as investors view cryptocurrencies as a hedge against inflation. Traders are expecting a dollar unwind if the CPI indicates a rate cut, which may lead to higher risk assets and potentially provide an entry point for crypto investors looking for higher prices. However, despite the positive outlook, bitcoin is still underperforming compared to equities and gold, indicating some hesitation within the crypto community. Traders are advised to consider purchasing options that offer downside protection as the best strategy in the current environment.



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