Fear remains the most dominant sentiment on the crypto market, even though the weekend is here. Earlier today (BTCThe price of the ). dropped to $47.250, and investors are biting off their nails following data from U.S. Consumer Price Index (CPI). This shows that inflation has reached a At 6.8%, it is the highest level in 40 years.

Source: Cointelegraph Markets ProAnd TradingViewThis shows that the bulls failed to claim the $50,000 support at midday and the sellers drove the price down below $48,000. It could lead to another lower-day high for the most-ranked cryptocurrency.