By The cryptocurrency market took a sharp hit today after a shock U.S. inflation. Bitcoin, Ethereum, and many other coins saw steep declines. The sudden downturn comes at a time when the crypto market had been showing signs of recovery after months.
Many traders had been betting on a bullish run, but today’s inflation throws expectations into doubt.
According to the latest Consumer Price Index data, inflation rose higher than analysts expected. Bitcoin price fell over 7% in early trading, dropping below $60,000 for the first time in weeks.
Ethereum fell nearly 8%, trading under $2,300. Many other popular altcoins like Solana, Cardano, and XRP are also suffering double-digit losses.
Crypto investors reacted swiftly to the hot inflation. Experts say the sell-off can present buying opportunities for long-term holders. They also warn short-term volatility could remain elevated. Now all eyes are now on the Federal Reserve’s upcoming policy meeting.
Whatever happens next could set the tone for crypto trading through the rest of the year.
For more information, follow The Verbo.
FAQs
1. Why did crypto prices drop today?
A higher-than-expected U.S. inflation report triggered a sharp sell-off.
2. How much did Bitcoin and Ethereum fall?
Bitcoin price dropped over 7% below $60,000, while Ethereum slid nearly 8% under $2,300.
3. Which altcoins were most affected?
Solana, Cardano, and XRP saw double-digit percentage losses.
4. What’s next for the crypto market?
Investors await the Federal Reserve’s next policy meeting, which could set the trading tone for the rest of 2025.
What is your reaction?
