Crypto Market Shakes as Economic Data Sparks Uncertainty

Crypto Market Experiences Fluctuations Amid Economic Data Uncertainty

The release of economic data in the United States on February 13th sparked volatility in the global cryptocurrency market.

Bitcoin and Ethereum Exhibit Caution

Bitcoin hovered around $97,000, experiencing brief dips. Ethereum fluctuated near $2,700, with traders adopting a cautious approach amid uncertainty.

Mixed Performance Among Cryptocurrencies

Ripple (XRP) rose over 4%, while Kaspa also performed well. Meme-based cryptocurrencies saw mixed results, with Dogecoin and Shiba Inu declining while another experienced modest gains.

Market Value and Trading Volume Decline

The global cryptocurrency market capitalization dropped by 1% to $3.2 trillion. Trading volume also decreased by 21.44% to $102.13 billion.

Factors Influencing Market

Economic data and macroeconomic developments contributed to the market's decline. Traders remain vigilant in monitoring the impact of these announcements.

Volatility and Caution Advised

Experts emphasize that the cryptocurrency market remains vulnerable to high volatility in the short term. They advise traders to exercise caution, particularly due to shifts in market sentiment and economic factors influencing price movements.