Bitcoin, XRP, Dogecoin Dip But Ethereum Outperforms After Inflation Report

Cryptocurrency markets are trading lower on Tuesday despite an in-line consumer price inflation report.

Crypto trader Michael van de Poppe says the market is playing out a "classic move," with more downside likely as Bitcoin and Ethereum look poised to flush overleveraged long positions.

Despite the broader uptrend, he warns that increased volatility could trigger sharp short-term corrections.

Michaël van de Poppe

@CryptoMichNL

Classic move on the markets here. LIkely we're going to be seeing some more downside on #Bitcoin and #Ethereum to squeeze out the longs. Remember; volatility goes up, price goes up, this means harsh corrections are around the corner.