Crypto Market Suffers Bearish Pressure Amidst Inflation Fears

The cryptocurrency market is facing pressure from rising inflation concerns, leading to significant sell-offs in Bitcoin and Ethereum. According to data reported by BlockBeats News, key support levels for both cryptocurrencies are under threat. Vincent Liu, CIO of Kronos Research, highlights the amplified bearish sentiment in the market due to these factors. Bitcoin’s critical support level is currently at $100,000, while Ethereum’s support stands at $4,000. This raises concerns about potential liquidity tightening and further volatility.