Key Notes

Crypto market cap dropped from over $4.02 trillion to around $3.98 trillion after a massive price plunge.

Prices of BTC, ETH, SOL, and XRP are down, following the release of US PPI data this week.

US Treasury Secretary Scott Bessent says the government has no plans to make additional purchases of Bitcoin.

From soaring to a capitalization of over $4.02 trillion, the broader crypto market has recorded a notable drop within the last 24 hours.

Precisely, it has lost up to $133 billion in the wake of the sudden bearish switch. The major triggers suspected for these negative shifts are Scott Bessent’s remark and the US PPI data, released earlier this week.

BTC, ETH, XRP, and Others Face a Downturn

The US Producer Price Index (PPI) was released recently and showed its highest i

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