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Bitcoin prices Slumping as Crypto Bulls Liquidates

March 19, 2024
in Coins, Market, News
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/ freepik

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Crypto market capitalization dropped 7%, its sharpest fall this year, as bitcoin (BTC) plunged 8% in the past 24 hours to wipe weekly gains and kickstart a marketwide decline.

Bitcoin slumped from Thursday’s high of $73,000 to as low as $65,800 early Friday before slightly recovering.

Ether (ETH), Cardano’s ADA, BNB Chain’s BNB and XRP showed similar losses, while volatile meme coins dogecoin (DOGE) and shiba inu (SHIB) fell 13%. Solana’s SOL tokens were the only major token in green, up 1% since Thursday.

The sell-off started during the U.S. trading hours on Thursday as the February Producer Price Index (PPI) came in 0.6% higher, doubling the pace in January and doubling economist forecasts, dousing hopes for a rate cut in May.

Source: CryptoNow
Tags: BTCDOGEETHSHIBSOL

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