Coin World Report:
In the past 24 hours, the volatility of the entire cryptocurrency market has increased, with its total capital nearing $2.2 trillion, experiencing a 0.6% decline during this period.
The battle between Bitcoin buyers and sellers seems to be in full swing as the price remains volatile.
Bitcoin Price Fluctuation
As reported earlier today by CryptoPotato, the total cryptocurrency market cap has been declining in the past 24 hours, with BTC hitting an intraday low of around $54,300.
However, in the past few hours, the bulls have taken control and pushed the price up to $57,000, at the time of writing this article.
Source: TradingView
The volatility is also reflected in the total liquidations, with over $300 million liquidated in the past 24 hours, indicating a fierce struggle between the bears and the bulls.
Altcoins Bounce Back
Earlier today, most altcoins experienced significant declines ranging from 3% to 10%.
Now, after the rebound in the past few hours, the situation has changed.
Source: Quantitative Crypto
ETH managed to recover above $3,000 and is currently heading towards $3.1K, marking a 1% increase in the past 24 hours. Other coins such as BNB, SOL, DOT, BCH, UNI, MATIC, and SHIB have successfully flipped their trading sessions into the green zone, erasing some of the earlier losses.
In conclusion, there will be a lot happening in the coming days that may impact the broader performance of the cryptocurrency market.
The US CPI data is expected to be released on Wednesday, which serves as an indicator of the country’s inflation. The Chair of the Federal Reserve will also testify in Congress tomorrow, with expectations that the focus will mostly be on monetary policy.
In other words, be prepared for potential volatility.
