Crypto Markets Drop as Investors Eye House Vote and Inflation Data – Crypto News – Crypto News
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Crypto Markets Drop as Investors Eye House Vote and Inflation Data Crypto Markets Drop as Investors Eye House Vote and Inflation Data

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Crypto Markets Drop as Investors Eye House Vote and Inflation Data – Crypto News

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BTC and ETH are trading relatively flat while altcoins are mixed.

Major digital assets posted mild losses on Wednesday as investors awaited key macroeconomic data and a House vote later today on a funding bill that could end the U.S. government shutdown.

Bitcoin (BTC) hovered near $102,000 at the time of writing, while Ethereum (ETH) is trading at $3,434 – both down less than 1% on the day.

Among major altcoins, XRP is down 2% to $2.41, BNB is down 1.4% to $965, and Solana (SOL) is down 2.3% to $158.

BTC Chart

The day’s top gainers include Story Protocol (IP), up 14% to $4.19, Canton Network (CC), which rose 12% to $0.1239, and Sky (SKY), gaining 11% to $0.059.

On the downside, Uniswap (UNI) led losses with a 13% drop to $7.71, followed by Official Trump (TRUMP), down 7.8% to $7.68, and Filecoin (FIL), which slipped 7% to $2.20.

The global cryptocurrency market capitalization is down 2% at $3.51 trillion, with Bitcoin dominance at 57.8% and Ethereum dominance at 11.8%.

Liquidations and Market Flows

Over $614 million in crypto positions were liquidated over the past 24 hours, according to Coinglass. Long positions made up over $503 million, while shorts accounted for nearly $110 million.

Bitcoin led the liquidations with nearly $159 million, Ethereum followed with nearly $152 million, and altcoins contributed to around $52 million.

Spot Bitcoin ETFs recorded $523 million in outflows on Tuesday, marking the second consecutive day of withdrawals. Meanwhile, Ethereum ETFs saw $107.18 million in outflows, according to SoSoValue, while Solana ETFs attracted around $8 million in inflows.

Macro and Political Developments

Traders are watching Washington closely today as the House of Representatives is set to vote Wednesday evening on a Senate-backed funding bill that could end the longest U.S. government shutdown in history.

The shutdown has already caused disruptions, including nearly 900 flight cancellations and delays, while some SNAP benefits remain on hold, CNN reported on Wednesday.

Investors are also looking ahead to inflation data, with the core Consumer Price Index (CPI) due Thursday and the core Producer Price Index (PPI) on Friday. Experts say the reports could alter investor confidence in the coming weeks. This comes as the crypto market has continued to suffer since Oct. 10, with Bitcoin facing numerous headwinds.

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