Crypto Market Today (10th Oct 2024): U.S. CPI Dips to 2.4%, Bitcoin Price Slips to $60k Level

The post Crypto Market Today (10th Oct 2024): U.S. CPI Dips to 2.4%, Bitcoin Price Slips to $60k Level appeared first on Coinpedia Fintech News

Cryptocurrency Market Today: The US Consumer Price Index (CPI) has fallen to 2.4%, somewhat more than projected but lower than the previous 2.5%, suggesting small economic developments. This has altered market sentiment, resulting in a little shakeup in the bitcoin market. As inflation concerns linger, the cryptocurrency market’s overall value has declined.

The worldwide cryptocurrency market cap now stands at $2.13 trillion, down 2.26% in the last 24 hours, while trade volumes have fallen 4.24% to $65.91 billion. Investor mood remained cautious, with the Fear & Greed Index at 37, reflecting market concern.

Bitcoin Price Today: BTC Price Slips 2.43% to $60k Level!

Bitcoin is under pressure, falling 2.43% to $60,834.85. The decrease follows a great performance last week, and while the market remains optimistic about a rebound, present macroeconomic conditions and CPI changes are keeping BTC under control.

Curious about BTC’s future price targets? Our Bitcoin Price Prediction answers that and much more!

Altcoin Watch: ETH, SOL, and XRP Follow BTC?

Ethereum has also declined, down 1.87% to $2,386. Ethereum’s price dip is consistent with broader market conditions, and traders are keeping a careful eye on the network’s impending improvements, which may provide some support in the coming days.

Interested in the long-term price targets of ETH? Read our Ethereum Price Prediction

Solana and XRP have followed suit, with Solana down 2.51% to $139.03 and XRP falling 0.96% to $0.5274. Both tokens remain popular among investors, but the larger market attitude is likely to influence their immediate direction.

In terms of market movers, Uniswap leads the pack with an incredible 8.97% increase, while Chiliz and Mantra also had rises of 3.61% and 3.02 percent, respectively. Eigen, on the other hand, suffered the most among the top losers, dropping 11.35%, followed by Aptos and Conflux, which fell 9.09% and 6.94%, respectively, in the last 24 hours.

As the market digests the most recent CPI data, investors will be looking for the next big moves in both traditional and digital markets.