Reserve Dollar

Bitcoin

Dogecoin

Shiba Inu

Reserve

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/recent-trends-in-bitcoin-and-altcoin-markets-2/" data-wpel-link="internal">Recent Trends in Bitcoin and Altcoin Markets</a> 
In the past seven days, many leading altcoins have seen significant declines, with some dropping over 5%. As Bitcoin (BTC) climbs back above the $63,000 threshold today, it sends signals of recovery to the market, helping the shaken altcoins to begin stabilizing. 
<h2 style="text-align: justify" id="strong-current-state-of-bitcoin-and-altcoins-strong">Current State of Bitcoin and Altcoins</h2> 
According to data provided by the crypto data and price platform CoinGecko, Solana (SOL) stands out as the altcoin that lost the most value among the top 10 cryptocurrencies, with a drop of over 5% in the last seven days. Dogecoin (DOGE), Cardano (ADA), and Shiba Inu (SHIB) also indicate notable declines with losses ranging between 3% to 5%. XRP, linked to Ripple, has also seen a 3% decline over the past week and is approaching horizontal support levels as indicated by the 100eyesCrypto indicator. 
The king of altcoins, Ethereum (ETH), has traded with a performance well below Bitcoin, experiencing a drop of over 6% in the last seven days. 
Bitcoin has remained relatively stable over the past week, experiencing a modest decline of 3.12%, trading just above $63,000 at $63,040. While the price of the largest cryptocurrency continues to consolidate between $60,000 and $64,000, its dominance in the market is increasing. 
<h2 style="text-align: justify" id="strong-investors-eye-consumer-price-index-data-due-on-may-15-strong">Investors Eye Consumer Price Index Data Due on May 15</h2> 
The <a href="https://en.coin-turk.com/analyst-highlights-ethereum-and-bitcoin-dynamics-for-investors/" data-wpel-link="internal">cryptocurrency market</a> currently lacks a clear bullish catalyst to drive prices higher, leading to suppressed sentiment among <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>. However, all eyes are on the Consumer Price Index (CPI) data to be announced on May 15, which could potentially increase volatility in the cryptocurrency market in the days and weeks following its release. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-350790" src="https://coin-turk.com/wp-content/uploads/2024/05/Bitcoin-Altcoin-TUFE-verileri.png" alt="" width="854" height="338"> 
The CPI data is of great importance as it could be a decisive factor in shaping the market’s direction. If inflation data comes in lower than expected, it could prompt the U.S. Federal Reserve (<a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">Fed</a>) to consider <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">interest rate</a> cuts, boosting optimism and potentially leading to an increase in economic activity, which could help raise Bitcoin and altcoin prices. 
A disappointing CPI result, on the other hand, could have negative effects on market sentiment and lead to a decline in the prices of Bitcoin and altcoins. Therefore, investors are eagerly awaiting the CPI data to gain insights into future Fed monetary policy decisions and their potential impact on the markets. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/recent-trends-in-bitcoin-and-altcoin-markets-2/" data-wpel-link="internal">Recent Trends in Bitcoin and Altcoin Markets</a></h5>

Recent Trends in Bitcoin and Altcoin Markets

Table of Contents

COINTURK NEWS

Other articles published on May 13, 2024

Elon Musk Reacts to the Rebellion of Stack Overflow Users as They Protest Against the OpenAI Deal

OpenAI ChatGPT Event Announcements: GPT-4o Model and Desktop Version

CEO Drops Bombshell: Trump Campaign Eyes Crypto-Friendly Policies

Bitcoin: Here is the solution to not pay taxes!

Charles Hoskinson Claims Trump To Be Better Than Biden

Spot Bitcoin ETF Inflows Slip On Regulatory Banana Skins

Join our free newsletter for daily crypto updates!