Cryptocurrency Profit-Taking Continues, Dogecoin and Ripple Plunge, Market Focuses on Friday's Inflation Data
According to a report by CoinDesk, as reported by Jinse Finance, profit-taking in the cryptocurrency market continued ahead of Friday's inflation data release, with Dogecoin and Ripple experiencing sharp declines. Traders are closely watching the upcoming core Personal Consumption Expenditures (PCE) data, a key inflation measure for the Federal Reserve. Despite the uncertainty, inflows into spot ETFs remain steady, with BlackRock's IBIT achieving net inflows for 30 consecutive days. QCP noted a divergence between digital assets and traditional tech stocks, as while cryptocurrencies have maintained solid momentum, fund flows into products like the TQQQ Nasdaq ETF have become cautious.
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