Bitcoin fell by 68,000, and Ethereum fell below $3,500! The market is paying attention to the U.S. CPI announcement tonight

Bitcoin once dropped to US$68,000 earlier today (10th), and Ethereum's lowest was close to US$3,450. As a result, BTC may stay sideways at the level of 60,000 for a longer period of time. In addition, investors are also paying attention to the CPI data in the United States tonight. .

After Bitcoin (BTC) climbed to US$72,797 on Monday night, leading the market to expect another all-time high, it continued to fluctuate lower yesterday, and once dropped to US$68,000 around 01:00 today (10th), catching bulls off guard.

At the time of writing, it has rebounded slightly and is now trading at $69,100, down 3.08% in the past 24 hours. The current trend of BTC has fallen back below the pressure line after the triangle breakthrough, breaking the original breakthrough momentum. It may stay sideways at the 60,000 level for a longer period of time. We do not rule out the opportunity to test $62,500 again.

The market is paying attention to the U.S. CPI announcement tonight

Another factor that may affect the large fluctuations in BTC is that the market is paying attention to the March CPI data to be released by the U.S. Bureau of Labor Statistics at 20:30 tonight. As the U.S. CPI data in January and February exceeded market expectations, showing that the challenge of inflation is still severe, if the CPI in March still shows no downward trend, or even exceeds expectations again, then the Fed's interest rate cut expectations may be thrown cold water on it again. .

Ethereum slides below $3,500 again

As for Ethereum (ETH), the decline was more severe than that of BTC. Earlier today (10th), the lowest was close to US$3,450. It was currently trading at US$3,495 at the time of writing, down 5.12% in the past 24 hours.

The rise and fall of the top ten tokens

CoinMarkeCap data shows that most of the other top ten currencies have also fallen simultaneously in the past 24 hours, with SOL and DOGE falling by 4~5%. The only one that has bucked the trend and is still rising is TON, which ranks as the ninth largest token, with gains in the past 24 hours. Reached 5.6%.