CoinScoopCrypto market declines as inflation data sparks rate hike concerns
The cryptocurrency market capitalization fell 2.18% to $2.62 trillion following hotter-than-expected U.S. producer inflation data. Bitcoin dropped below $77,000, Ethereum moved toward $2,470, and XRP traded near $1.38. The downturn is attributed to renewed Federal Reserve rate hike fears, rising oil prices, and leveraged liquidations.
Summaries are written by AI from the original article. Not investment advice.