#CryptoCPIWatch CryptoCPIWatch

Bitcoin (BTC) has dropped to below $102,400, and is currently trading around $103,213, with a decrease of about 1.2%.

Ethereum (ETH) has also fallen to around $2,478, with a decrease of about 3.5%.

Other major cryptocurrencies have experienced declines of up to 7%.

Main reason:

A cautious wait in the markets ahead of the release of U.S. inflation data.

Investors expect that higher-than-expected inflation data will prompt the Federal Reserve to tighten its monetary policy, which would negatively impact riskier assets like cryptocurrencies.