Bitcoin, Ethereum Hovers in Uncertainty; Altcoins Market Falls Over 4%
The cryptocurrency market experienced a turbulent day as Bitcoin and Ethereum struggled to maintain stability, while altcoins faced significant declines. The broader market dropped over 4%, reflecting cautious sentiment amid macroeconomic pressures and profit-taking.
Bitcoin price dipped as low as $106,900 on leading crypto exchanges while briefly touching $110K earlier today. This current state could be attributed to profit-taking and uncertain reaction on CPI data, which has fueled market caution.
Despite the dip, Bitcoin has held above $100,000 for five consecutive weeks, marking its longest streak at this level. Experts suggest that short-term bearish trends persist, with support at $107,200 and resistance at $110,600.
At the time…
