Crypto Market Sinks on Soft PPI, Middle East Tensions
Bitcoin and Ethereum slipped by 2% and 4%, respectively, as macroeconomic and geopolitical concerns weigh on investor sentiment.
The cryptocurrency market recorded mild losses on Thursday following the release of the latest Producer Price Index (PPI) report, which signaled cooling wholesale inflation in the United States.
Bitcoin (BTC) dipped 2.4% to $107,100, while Ethereum (ETH) dropped 5% to $2,724. Meanwhile, XRP and Solana (SOL) plunged by 4% and 6%, respectively.
The total cryptocurrency market capitalization plummeted by 5% in the past 24 hours to $3.49 trillion. Leveraged liquidations totaled $326 million in this time period, according to CoinGlass. ETH accounted for around $90 million, while BTC liquidations stood at…
