The crypto market is going down today, with Bitcoin and most altcoins being in the red. Bitcoin dropped to $81,000, while the market capitalization of all tokens fell by 3.7% in the last 24 hours to $2.7 trillion. Some of the top laggards in the industry were tokens like Raydium (RAY), Zcash (ZEC), Lighter (LIT), and Starknet (STRK). All these altcoins dropped by over 12%.

Crypto market crash triggered by US inflation data

One of the key reasons why the crypto crash is happening today is that the US published strong consumer inflation data on Wednesday. The headline Consumer Price Index (CPI) rose 3.7% in September, moving further away from the Federal Reserve’s target of 2.0%. Core inflation also continued rising during the month.

US…