Bitcoin starts the week strong 
$86,989.86When it had difficulty in exceeding the $ 92,000 resistance, it experienced a sharp retreat and the price suddenly fell to the $ 88,000 level. Although it showed signs of recovery after the crash in November, the pressure from the bears increased again. The leading cryptocurrency, which was traded above $ 91,000 at the beginning of the week, was once again caught in a sales wave with the release of PCE and core PCE data from the USA.
BTC Below $90 Thousand
According to market data, Bitcoin tested the $94,000 resistance twice in a few days but encountered a strong wall each time. Failure to exceed this level caused investors to turn to profit making and the price to get stuck in the 91,000-92,000 band. US inflation data announced on Friday completely changed the picture. BTC, which fell to $ 88,000 within minutes, triggered a liquidation of a total of $ 500 million in the altcoin market.
At the time of writing, Bitcoin is still trading below $90,000 and its market cap has fallen to $1.8 trillion. Despite this, the fact that BTC dominance continues to remain above 57% shows that investors are rapidly moving away from altcoin risk.
Red Alert in Altcoins: ZEC and CC Crashed
The sharp movement in Bitcoin also created widespread selling pressure in the altcoin market. Ethereum 
$2,804.64 While it is holding just above the $3,000 mark, down 3.4%, the XRP price is in danger of falling below $2. Altcoins with large market caps such as SOL, ADA, LINK, HYPE, DOGE and XLM suffered losses of up to 5%.
The hardest hit names in the market were ZEC and CC. Both altcoins suffered double-digit losses, subject to panic selling by investors. On the other hand, TRX and BCH managed to separate from the market with a limited increase.
The total cryptocurrency market value decreased to 3.13 trillion dollars, with approximately 60 billion dollars deleted in just 24 hours.
In addition to this downward wave on the altcoin front, it was recently announced that Coinbase had made new regulations in some staking products in line with the demand from institutional investors. Experts state that every step the USA takes in crypto regulations triggers sudden price changes in the altcoin market. The current fragile structure of the market has further increased the impact of regulation-related news flow.
In summary, the latest sales wave prevailing in the crypto market once again revealed how sensitive investors are to macroeconomic data and regulatory signals originating from the USA. While Bitcoin’s failure to break $94,000 indicates a loss of strength on the technical side; The general weakness in altcoins shows that risk appetite has decreased significantly. In the short term, the direction of the market seems to be determined by both economic data from the USA and whether BTC can recapture the $90,000 level.
