Investing.com – While remaining in the $67,000 range ahead of upcoming U.S. economic data, losses of over 5% were seen among altcoins with high market value.
After Bitcoin was quickly rejected at the $70,000 level in trading at the start of the week, there were moves towards the $67,000 limit. Some market commentators emphasized the declining momentum in the Bitcoin market, warning that its negative momentum could continue towards $65,000. However, the fact that Bitcoin held the $67,000 range throughout the week made bullish investors hopeful about the rise. As a result, there is a shaky outlook in the cryptocurrency market ahead of important inflation data.
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Jobless claims, growth factored in ahead of PCE data
If the data to be announced today and tomorrow in the US deviates from expectations, volatile trading in risk asset markets is expected to increase.
While US jobless claims and growth data today have the potential to increase volatility in the markets, the personal consumption expenditures price index, due to be announced tomorrow, is considered more important than the data. of inflation that the Federal Reserve closely monitors.
Consequently, consumer sentiment is estimated to be higher than expected, which may put pressure on cryptocurrencies along with risk markets.
While pessimistic comments about the cryptocurrency market predominated, the report from Blockchain analytics firm Glassnode suggested there were signs of a recovery in Bitcoin buyer interest. The report notes that long-term investors started saving again for the first time since December last year.
Latest situation in the altcoin market.
While the overall outlook for the rest of the market remains negative, meme coins appear to be leading the decline in the top 100 cryptocurrencies. According to the latest situation, , , and were the altcoins that fell the most in the last 24 hours.
Although , one of the new crypto assets on the market, positively differentiates itself from the market with an increase in value of more than 35%, there is no cryptocurrency among the top 100 that has registered an increase in value of more than 5% in the last 24 hours .
