Crypto Markets Steady as Traders Await Key Economic Data
- Bitcoin is trading at approximately $108,164, a slight increase from Monday but down by 2% for the week.
- Ethereum is priced around $3,815, with trading volume up by 33% ahead of U.S. inflation data.
- Polymarket traders estimate a 77% probability of a U.S.-China tariff agreement by November 10.
- Analysts suggest that Bitcoin could face significant buying interest if it dips below $100,000.
- The Ethereum Foundation’s recent $650 million transfer led to $700 million in profit-taking and long liquidations.
The crypto market remains in a holding pattern as traders prepare for Friday’s CPI report, which is viewed as critical for shaping policy expectations and risk sentiment. A softer inflation print could bolster Bitcoin’s price movement while maintaining elevated volatility levels.
Currently, Bitcoin’s price stability around $108K reflects cautious optimism among traders awaiting economic indicators that may influence future market direction.(Source)
