Crypto Price Today Live: Bitcoin falls below $29,100k; Litecoin, Ethereum tank up to 10%

economictimes.indiatimes.com:

UK CPI data for March came higher than expected. Bitcoin (BTC) fell 3.64% to $29,020, whereas Ethereum (ETH) declined 5.60% and was below the $2,000 level. «Bitcoin fell below the US$29,000 level in the past 24 hours following the release of higher-than-expected U.K inflation figures, which showed a rise of 10.1% in the 12-month period. This sent BTC to its lowest point since April 10. The next major support now lies at the US$28,500 level,» Edul Patel, Co-founder and CEO at Mudrex, said. «As is typical with unexpected events, the market reacted, causing investors to move away from riskier assets. It may take some time for investors and traders to evaluate the potential impact of the inflation data and recover from the event,» Edul added. Other top crypto tokens were also trading lower. Litecoin declined nearly 10%. Meanwhile, BNB, XRP, Polygon and Polkadot traded with cuts. The global cryptocurrency market cap was trading lower around $1.22 trillion, falling 3.92% in the last 24 hours.

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The market cap of Bitcoin, the world's largest cryptocurrency, was around $560 billion. BTC volume stood at approximately $2581 billion, rising 35.65% in the last 24 hours. Bitcoin’s dominance is currently 46.10%, an increase of 0.10% over the day, according to CoinMarketCap. «BTC is currently trading below $29,000 and its 20-day EMA. Unless it reclaims it soon, there may be a period of consolidation and volatility in