Analysis News TheBitTimes.com

XRP price plunged below the critical $3 threshold early Friday as the broader cryptocurrency market reacted sharply to U.S. President Donald Trump’s newly imposed tariffs on multiple countries, sparking fears of escalating global economic tensions. The sell-off, which also rattled equities, combined macroeconomic uncertainty with profit-taking after XRP’s recent highs. In particular, the token fell from an intraday peak of $3.16 to a low of $2.92, wiping out more than $13 billion in market value as its capitalization dropped from $186.6 billion to $173.3 billion in just hours. XRP market cap. Source: CoinMarketCap The breach of the $3 mark was a technically significant event. Psychological levels like $3 tend to act as magnets for liquidity. Once broken, they can accelerate momentum-driven selling, especially in a macro-driven sell-off like this. 24 hour volume ($8.1 billion up nearly 24%) shows that the sell-off wasn’t a quiet drift, it was high-volume, panic-driv...

Bitcoin fell 3% in just over an hour following the latest Consumer Price Index (CPI) data, which came in below expectations. BTC spiked to almost $62K on the back of the CPI print, but has since retraced below the psychological $60K mark to trade at $59,309.52 as of 9:25 a.m. EST. Inflation Slowing To Lowest Rate In 3 Years The CPI increased 0.2% on a seasonally adjusted basis after it declined 0.1% in June. Throughout the past 12 months, the index rose 2.9% before seasonal adjustment. This came in just below the 3% rise that economist’s had anticipated. The main reason for the increase was rising housing costs. Looking at just energy and food shows that the core CPI increased by 0.2% monthly and 3.2% annually, which was in line with expectations. The annual rate is also the lowest it has been since March 2021. Similarly, the core rate has come in the lowest it has been since April of the same year. Bitcoin Could Still Drop To $55K, Warns Analyst Commenting on BTC’s...