The landscape around bitcoin took another turn for the worse in the past 24 hours as the asset fell to its lowest price position in almost two months.
The altcoins are in no better shape, with ETH, MATIC, SHIB, DOT, LDO, and many others dumping hard in the past 48 hours.Bitcoin was trading sideways for a few days until Tuesday and sat calmly around $27,500, anticipating the US CPI announcement, which was scheduled for Wednesday. Once the numbers came out and it turned out that the inflation increase is slightly lower than expected, the cryptocurrency actuallyin the following hours to under $27,000.
This culminated in a drop to $26,100 early today, which was bitcoin’s lowest price position since mid-March. Despite recovering a few hundred dollars since then, BTC is still over 4% down on the day.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:As such, its market cap has slipped to $510 billion, and its dominance over the alts has taken a hit and is down to 46.3%.
Somewhat expectedly, the enhanced volatility has resulted in roughly $150 million in liquidations on a daily scale,