Bitcoin, Dogecoin Flat, While Ethereum, XRP Sink Amid Hotter-Than-Expected Consumer Inflation: Analyst Sees No BTC Exhaustion, Targets This Range

💡 Analysts see no signs of Bitcoin exhaustion despite hotter-than-expected inflation.

The Federal Reserve's hotter-than-expected consumer inflation data sent shockwaves through the crypto market, with Bitcoin and Dogecoin trading flat while Ethereum and XRP sank.

The Consumer Price Index (CPI), which measures the average change in prices of a basket of goods and services, rose 6.4% in April, exceeding the 6.3% forecast. This surge in inflation has analysts worried about the impact on the economy and the crypto market.

Ethereum and XRP Take a Hit

As inflation fears mount, investors are flocking to safe-haven assets like gold and bonds. Ethereum and XRP, which have been struggling to regain their footing after the 2022 market crash, took a significant hit on Wednesday. $ETH fell 4.2% to $2,550, while $XRP dropped 5.1% to $0.55.

Bitcoin and Dogecoin Hold Steady

Bitcoin and Dogecoin, on the other hand, remained relatively flat, with $BTC trading at $38,500 and $DOGE at $0.07. Analysts are attributing this resilience to the halving event, which is expected to reduce the supply of new Bitcoins and increase demand.

What's Next for Crypto?

As inflation fears continue to weigh on the market, investors are wondering what's next for crypto. Will Bitcoin and Dogecoin continue to hold steady, or will the hot inflation data send them tumbling? Do you think $BTC will hold above $35,000? Share your view in the comments.

What It Means for Investors The hotter-than-expected inflation data has sent shockwaves through the crypto market, with Ethereum and XRP taking a significant hit. Analysts see no signs of Bitcoin exhaustion, despite the inflation fears. As the market continues to navigate this uncertainty, investors will be watching closely for any signs of a potential rebound.