Crypto Market Dips Amidst Volatility, Despite Soft Inflation Data

The cryptocurrency market experienced a downturn this week despite softer producer price index inflation data. Major crypto assets like Bitcoin, Ethereum, XRP, and Shiba Inu are experiencing declining prices as high liquidation rates contribute to increased market volatility. 24-hour liquidations reached $361 million, highlighting the vulnerability of bullish traders who held substantial positions in the cryptocurrency space.