The recent release of producer price index data has changed sentiment in the cryptocurrency market, raising concerns among investors.
Ethereum (ETH) Struggles
Ether continues to decline, dropping 5% to $4,275, distancing itself from its all-time high of $4,375. The possibility of testing the $4,150 level had been previously mentioned, and the PPI data release confirmed this scenario. Currently, ETH is nearly $100 below its ATH, approximately 10% off its peak.
August 18th Crypto Volatility
The timing of EU leaders' visit to the White House coincides with the unstable situation in the cryptocurrency market. Trump's meeting with Putin in Alaska ended without significant conclusions, despite the seemingly positive exchanges. The lack of clarity may impact the market as uncertainty continues to create tension.
Expectations and Next Steps
Altcoin investors should remain vigilant and closely monitor market changes. If support at the 0.037 BTC level (ETHBTC pair) is lost, it could result in a rapid price decline. The pair may drop to 0.035 BTC, further increasing pressure on USD quotes.
Inflation data has significantly impacted the cryptocurrency market, causing price declines, especially for Ethereum. Investors should closely follow upcoming events.
