Crypto Market Takes a Nosedive: Key Drivers Behind Today’s Plunge

Cryptocurrencies have experienced a significant downturn in value today, with major players like Bitcoin (BTC), Ethereum (ETH), Raydium (RAY), and others seeing substantial losses. The combined market capitalization has shed over $60 billion, currently hovering around $3.31 trillion. 📈 This downward movement follows the release of yesterday’s U.S. CPI data, which indicated a year-over-year inflation rate of 2.4%. Though slightly below expectations at 2.5%, this figure still impacted investor sentiment and led to broader pullbacks in risk assets like crypto.