The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell
— Vires finance, Losers among, Longs, Despite remaining negative, Traders must also analyze, Methis persistent “ extreme fear ” reading indicates, United states dollar, Uncertainties regarding, Markets, Based retail crypto trader demand — 1 min read
Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. Consumer price index (CPI) report showed an 8.6% year-on-year increase. Still, it’s not certain whether the figure will convince the United States Federal Reserve to hesitate in future interest rate hikes. Data shows traders are less inclined to sell at the current levels, as shown by the modest improvement in positive funding rate for Bitcoin and Ether futures futures displays traders’ growing appetite for long-term leveraged positions. Any recovery depends on macroeconomic data stabilizing, according to Cointelegraph.com's John Defterios, who says there is no reason to believe crypto investors are expecting a positive price move soon Source