The crypto ecosystem witnessed bearish sentiment ahead of the U.S. Consumer and Price Index (CPI) report while stocks closed a green day.
According to data provided by CoinGecko, the global crypto market cap declined by 2.1% in the past 24 hours and is sitting at $2.72 trillion at the time of writing. The total daily trading volume also recorded a 3% drop, hovering around the $112 billion mark.
Following the marketwide decline, the leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), slightly dipped after a short-term bullish momentum on April 9. BTC slipped by 2.6% in the past 24 hours and is trading at $68,900 at the time of writing.
ETH recorded a 3.3% fall over the past day and is trading at $3,510 at the reporting time.
The red market condition comes before the release of the U.S. CPI data for March 2024 — set for April 10 at 08:00 ET (12:00 UTC).
If the unveiled readings are exactly as projected, the chief analyst at Bitget Ryan Lee says, “it will amplify…
Originally published at crypto.news by Wahid Pessarlay. Read more here.