On Thursday, May 15, afternoon Asian time, the total crypto market cap slid by 4.8% to $3.39 trillion. Bitcoin btc-0.21%Bitcoin dipped 1.6% to around $101,846, losing the $103,100 support level. 

Analysts are now watching the $101,600 mark as the next crucial level that it needs to hold to keep the recent bullish momentum alive.

This dip comes right after the latest U.S. Consumer Price Index (CPI) data was released. Inflation for April came in lower than expected, rising just 2.3% year-over-year—the slowest pace since 2021, and down from March’s 2.4%.

While low inflation can be a good sign, it also hints at weakening consumer demand, which could point to underlying recession fears.

Interestingly, even though Trump’s new tariffs haven’t fully trickled down to consumer prices yet, the softer inflation print probably won’t be enough to convince the Federal Reserve to cut interest rates, despite pressure from Trump.

Rate cuts are something the crypto traders have been hoping for, since lower rates usually boost liquidity and risk appetite.

Investors are also in wait-and-see mode as they await the U.S. Producer Price Index (PPI) data coming out later today at 12:30 PM UTC. The report should give more clues about inflation, which could play a big role in what the Fed decides to do next with interest rates.

Most market experts believe the Fed is likely to keep interest rates steady, and that’s prompted many traders to lock in profits, especially after Bitcoin’s strong run above the $100,000 mark. 

While most of the market is sliding, some altcoin may be better positioned to ride out the