BTC and Doge Slide as Crypto relaxation eyes before CPI

The encryption markets have decreased by 3 % over the past 24 hours, as traders are waiting for the Consumer Prices Index (CPI) expected later on Wednesday, as some expect a dollar slice in a move that may rise in encryption prices.

Bitcoin (BTC) lost 1.3 %, while MAJORS ETHER (ETH), Solana’s Sol, Cardano’s Ada and XRP lost up to 3 %. Memecoin Dogecoin (Doge) slims with a 4.5 % chip, while BNB BNB series increased by 1 % amid renewable interest in the ecosystem in Blockchain.

Petition CoINDESK 20 (CD20)The liquid index, which tracks the largest symbols by maximum market, decreased by 2.5 %.

The American consumer price index measures the average change over time in the prices that urban consumers pay for the market basket of goods and consumer services. Changes in the readings of the consumer price index tend to influence bitcoin and the broader encryption market, where investors view the assets category as they undermine inflation.

The expectations for the consumer price index in January calls on a monthly increase of 0.3 % for the index of all elements and an inflation rate for a period of 12 months of 2.9 %, providing signals about whether the Federal Reserve will reduce interest rates in 2025 to the high prices.

Some traders expect to relax in dollars on any indicators to reduce prices – which can rise in risk assets and provide entry to encryption investors looking to betting on high prices.

“We conclude that the market is very long on the dollar.” Capital Capital in Singapore said in a broadcasting telegram on Wednesday that given that the negative news has been priced in probably, we believe that the US dollar is now facing greater negative risks. ”

“Any positive news can force the US dollar a long time to collectively relax their positions, which may send risk assets up. The CPI version tonight can be a catalyst that leads to a decrease in a sharp step in DXY.”

“However, this tide may not raise all boats. Bitcoin continues to decrease in stock and gold, which indicates some frequency within the encryption community. Liquidity remains high through many new lists every week, and the wide liquidation last week was eliminated On many merchants, ”referring to last Monday 1 billion dollars liquidation It happened

QCP added the purchase of “the prohibition of the negative side” – or options that pay with low prices – are still the “best strategy” in the current environment.