The cryptocurrency market cap 2.95% in the past 24 hours, reducing its total value to about $2.03 trillion. The crypto market crash was mainly triggered by higher-than-expected U.S. inflation data, which increased expectations that the Federal Reserve could keep interest rates higher for longer. That prompted investors to sell riskier assets, including cryptocurrencies. Persistent outflows from U.S. spot Bitcoin ETFs and more than $428 million in Bitcoin long liquidations added to the selling pressure. Markets will watch upcoming Federal Reserve signals and whether the crypto market can hold the $2.03 trillion support level.
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