#CryptoCPIWatch #CryptoCPIWatch The crypto market is experiencing significant fluctuations ahead of the US Consumer Price Index (CPI) data release. Here are some key updates ¹ ² ³:

- *Bitcoin Price*: Bitcoin's value dropped to $100,700, a decline of nearly 1.5% in the last 24 hours, with a current trading price of $102,662.30. This downturn has led to over $730 million in liquidated positions across the crypto market, with 73% of them being long positions.

- *Market Liquidation*: The liquidation includes a massive $11 million BTCUSD order on Bybit. Analysts warn that the upcoming US CPI data could introduce further volatility to the crypto market.

- *US CPI Data*: The CPI data release is expected to show a 2.4% annual inflation rate in April, similar to March. Core CPI inflation is projected to remain at 2.8% year-over-year. A softer print could boost bullish momentum, while a higher-than-expected number might strengthen the dollar and weigh on crypto prices.

- *Investor Sentiment*: Despite the dip, investors remain interested in Bitcoin, with MicroStrategy buying 13,390 BTC for $1.34 billion. Experts predict a rebound in Bitcoin's price following the US CPI data release and Fed rate cut in June.

- *Altcoin Performance*: XRP is bucking the trend, rising 4% and gaining the 3rd spot in market capitalization. Other altcoins like Ethereum, Solana, and Cardano are experiencing mixed sentiment, with some analysts predicting short-term outperformance once Bitcoin stabilizes.

Keep an eye on these developments as the crypto market continues to evolve ¹ ².$crypto #CryptoCPIWatch