📉 Market Overview
Bitcoin (BTC): Fell by 1.6%, trading around $101,846, dropping below the $103,100 support level.
Ethereum (ETH): Decreased by 1.4%, trading at approximately $2,557.
XRP: Dropped by 3.9%, with its price around $2.46.
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🔍 Key Factors Behind the Decline
1. Profit-Taking After Recent Gains: Following a strong rally earlier in the month, investors are securing profits, leading to selling pressure.
2. Anticipation of U.S. Economic Data: Traders are cautious ahead of the U.S. Producer Price Index (PPI) release, which could influence Federal Reserve decisions on interest rates.
3. Declining Network Activity: XRP's network growth has slowed, with fewer new addresses being created, indicating reduced user engagement.
4. Increased Liquidations: XRP experienced $8.44 million in long position liquidations over the past 24 hours, contributing to its price decline. $BTC $ETH
