#CryptoCPIWatch Sure! Here's a paraphrased version of your update:

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Crypto on Edge Before CPI Release

#CryptoCPIWatch

Crypto markets are experiencing rising volatility as investors await today’s U.S. Consumer Price Index (CPI) report. The data could influence the Federal Reserve’s interest rate decisions and, in turn, affect crypto valuations.

Market Moves:

Bitcoin (BTC) dropped 1.83% over the past 24 hours, currently trading at $102,489. It reached a high of $105,525 and dipped as low as $101,065.

Ethereum (ETH) fell 2.48% to $2,453.76, with an intraday range between $2,600.58 and $2,425.28.

CPI Expectations:

The April CPI report is expected to show annual inflation holding steady at 2.4%, but alternative data from Truflation points to a much lower rate of 1.68%.

If inflation comes in lower than forecast, it could boost hopes for Fed rate cuts—potentially increasing investor appetite for riskier assets like crypto.

Liquidations and Sentiment:

In the past 24 hours, crypto markets saw $730 million in liquidations, with 73% coming from long positions.

This trend suggests traders are de-risking ahead of the CPI announcement.

Key Takeaways:

Expect heightened volatility; manage positions with care.

Watch support and resistance levels closely for short-term trading setups.

Market sentiment will likely shift quickly based on how the CPI data compares to expectations.

Traders should stay alert, as today’s inflation figures could be a major market mover.