Crypto markets rangebound as Bitcoin retreats below $104k; US PPI data eyed

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Crypto markets rangebound as Bitcoin retreats below $104k; US PPI data eyed - Business Standard

Quick Summary:

Among other altcoins, Cardano (ADA) was down 4.18 per cent, Solana (SOL) declined 4.08 per cent, Ripple (XRP) fell 2.18 per cent, and Binance Coin (BNB) dropped 1.

The crypto market is currently in a consolidation phase, underpinned by a broader bullish sentiment, said Riya Sehgal, research analyst at Delta Exchange.

Market analysts are eyeing a potential move toward the $3,000–$3,100 resistance zone.“With sell-side pressure decreasing, ETH is set to experience further rallies in the near term.