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"Crypto markets saw a slight dip with Bitcoin falling nearly 1% after U.S. CPI print showed inflation rose to 3.2% annually in July, compared to the expected 3.3% but still significantly higher than the Federal Reserves desired 2%," said, CoinDCX Research Team.
The market cap of Bitcoin, the world's largest cryptocurrency, was around $578 billion. Bitcoin's dominance is currently 48.93%, an increase of 0.12% over the day, according to CoinMarketCap.
"Bitcoin continues to trade sideways in a narrow range with low volumes indicating indecision. The asset is hovering around just below its 50 Day Moving Average. BTC after making the recent high of $31,804 witnessed profit booking and the prices corrected almost by 10% and made a low of $28,585," said ZebPay Trade desk.
The overall market, especially BTC, seems to be rather immune to many macro developments in its current state. The latest example is the rise of jobless claims and treasury rates, which usually triggers a risk-off sentiment amongst investors," Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said.
The market cap of Bitcoin, the world's largest cryptocurrency, was around $563 billion. Bitcoin's dominance is currently 48.56%, a decrease of 0.08% over the day, according to CoinMarketCap. BTC volume stood at approximately $15.5 billion, falling 21.08% in the last 24 hours.