Ethereum

Wednesday

Toncoin

Fantom

Reserve

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-and-altcoins-react-as-us-inflation-data-looms" rel="noopener noreferrer nofollow">Bitcoin and Altcoins React as US Inflation Data Looms</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-miners-face-new-hurdles-with-impending-block-reward-cut" rel="noopener noreferrer nofollow">Bitcoin</a>, the leading digital currency, dipped below the $70,000 mark on Wednesday as the crypto market experienced a notable pullback. The retracement from highs over $70,000 resulted in many alternative cryptocurrencies (altcoins), including <a href="https://en.bitcoinhaber.net/ethereums-resilience-in-face-of-etf-uncertainty-gains-analysts-confidence" rel="noopener noreferrer nofollow">Ethereum</a> (ETH), registering losses greater than 5%. This market volatility has captured investor attention as they keenly await the imminent release of US inflation figures.</p>
<h2 id="economic-data-influencing-crypto-dynamics">Economic Data Influencing Crypto Dynamics</h2>
<p style="text-align: justify">The fluctuations in the <a href="https://en.bitcoinhaber.net/web3-sphere-and-crypto-trends-surge-in-march-2024" rel="noopener noreferrer nofollow">cryptocurrency</a> sphere are largely associated with the anticipation of the March US inflation data, scheduled for release today at 3:30 PM GMT+3. Predictions suggest a 3.4% year-on-year increase and a 0.3% month-on-month rise in inflation for March. When setting aside more unpredictable elements like food and energy, core inflation is expected to climb by 3.7% year-on-year and 0.3% month-on-month.</p>
<p style="text-align: justify">A Bloomberg poll of economists points towards a potential moderation in the March inflation numbers, hinting at the possibility that the Federal Reserve might have additional leeway to contemplate reducing interest rates.</p>
<h2 id="market-snapshot-bitcoin-and-altcoins-performance">Market Snapshot: Bitcoin and Altcoins’ Performance</h2>
<p style="text-align: justify">As the market braces for the inflation news, Bitcoin witnessed a reversal from its weekly peak of $72,668, descending to $68,381 by April 9. Presently, Bitcoin hovers just beneath the critical $70,000 level, signifying a 63.93% surge since the commencement of the year.</p>
<p style="text-align: justify">The altcoin sector followed Bitcoin’s downturn, with many suffering steep value drops. Ethereum, often referred to as the ‘altcoin king,’ saw its valuation decrease by 5.03% over the last 24 hours, currently trading at $3,515, despite enjoying a 54.09% increase since the year’s start.</p>
<p style="text-align: justify">Per CoinMarketCap’s insights, the day’s top performer is Fantom (FTM), priced at $1.03 and up by 10.34%, with Bittensor (TAO) and Toncoin (TON) also making notable gains.</p>
<h2 id="points-to-take-into-account">Points to Take into Account</h2>
<ul>
 <li>Short-term price volatility is expected for both Bitcoin and altcoins during the release of US inflation data.</li>
 <li>Investors should monitor the Federal Reserve’s response to inflation rates for potential impacts on the crypto market.</li>
 <li>Ethereum and other altcoins tend to follow Bitcoin’s trend, which can inform investment strategies.</li>
</ul>
<p style="text-align: justify">The imminent US inflation data release is poised to potentially prompt further price oscillations for BTC and altcoins, keeping investors on their toes for near-term market direction.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-and-altcoins-react-as-us-inflation-data-looms" rel="noopener noreferrer nofollow">Bitcoin and Altcoins React as US Inflation Data Looms</a></h5>

Bitcoin and Altcoins React as US Inflation Data Looms

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