Crypto Market Today: Risk-Off Sentiment Dominates Ahead of PCE Release
The crypto market is experiencing significant declines, with the CoinDesk 20 Index dipping 5% within the last 24 hours, affecting all major tokens. Capital outflows from futures markets are evident, leading to increased demand for protective put options on Bitcoin and Ether. The upcoming U.S. core PCE data is a critical focus, as any inflation report that exceeds expectations could amplify market volatility. Many tokens, including Bitcoin (BTC) and Ether (ETH), are under pressure, with ongoing capital withdrawals observed in the futures market, raising concerns about the sustainability of minor price recoveries. Additionally, a newly launched layer-1 network called Plasma has entered the market with a fully diluted valuation surpassing $12 billion, aimed at facilitating high-speed, low-fee stablecoin operations. As market players brace for a potentially turbulent economic environment due to trade tariffs and economic indicators, emphasis on protective trading strategies continues to grow.
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