The cryptocurrency market is giving back the gains accrued on Wednesday following the release of inflation data in the US. After touching $70,000 Bitcoin price lost ground to below $67,000. Many top analysts believe that if BTC slides below the $66,000 level, the downfall could continue to $64,000.
Altcoins are also in the red led by Ethereum, Solana, XRP, and more. According to CoinGecko price data, ETH is down by 4.4% to $3,450, SOL by 7% to $147, and XRP by 3% to $0.48.
Meme coins have not been spared, with Dogecoin and Shiba Inu leading the drop among major cryptos. DOGE is pushing down on support at $0.14 after abandoning a potential rally to $0.2. Shiba Inu risks sliding below the key support at $0.00002 but hovered at $0.000021 on Thursday.
Why Is Bitcoin Falling As DOGE, SHIB Tumble
Inflation data in the US, particularly the Consumer Price Index (CPI), came in softer than expected on June 12. Bitcoin and altcoins to buy reacted bullishly after a gruesome drop to $66,000 on Tues
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