[New York Coin Market/Start] Bitcoin Recovers to $81,000 and Searches for Direction ... Watching CPI Data

# Cryptocurrency Market Attempts Recovery Ahead of New York Stock Exchange Opening New York - (Reporter Chang Do-seon) The cryptocurrency market is showing signs of a modest rebound on the 11th, attempting to recover from the previous day's sharp decline ahead of the New York Stock Exchange opening. Bitcoin has reclaimed the $81,000 level. Recently, the markets for risky assets such as cryptocurrencies and stocks have been severely impacted by concerns over an economic slowdown or stagflation triggered by uncertainty surrounding Trump's tariff policies. While some express optimism that fears of a recession are exaggerated and the worst may be over, there is still considerable expectation of further adjustments. The market is eagerly awaiting the U.S. Consumer Price Index (CPI) data for February, set to be released on Wednesday. If this data indicates that inflation in the U.S. is stabilizing, it could help restore risk appetite. Conversely, signs of worsening inflation are likely to deal additional blows to risky assets. Ilana Solot, Senior Global Market Strategist at Marex Solutions, stated in an email to CoinDesk, “Has the worst passed? It’s impossible to say for sure.” He added, “However, the risk-reward ratio for taking long positions in U.S. stocks is improving. The volatility index (VIX) is currently greatly inverted, indicating that short-term contracts are trading at higher prices than long-term ones, which is an important signal of market stress but could also point to extreme investor sentiment.” Alex Kuptsikevich, Senior Market Analyst at FxPro, noted, “The daily chart of Bitcoin shows a sustained bearish pattern and heightened selling pressure following the failure to defend the 200-day moving average. It still appears most likely that Bitcoin will decline to the $70,000 - $74,000 range.” As of 8:25 a.m. New York time on the 11th, the total market capitalization of cryptocurrencies stood at $2.64 trillion, down 3.35% compared to 24 hours earlier according to CoinMarketCap. However, it increased by $80 billion compared to the end of trading on the previous day. The 24-hour trading volume in the cryptocurrency market rose by 32.86% to $154.6 billion. Bitcoin's market dominance was recorded at 61.1%, while Ethereum's dominance was at 8.7%. The Crypto Fear & Greed Index stood at 15, indicating an extreme fear state. At this time, Bitcoin was priced at $81,732 on CoinMarketCap, down 1.75% from 24 hours prior. The overnight low (during the Asian time zone) was $76,624. Bitcoin has been undergoing a correction since recording a new all-time high of $109,114 on January 20. Ethereum fell 10.21% to $1,904, with an overnight low of $1,760. Ethereum’s all-time high was $4,891.70, recorded on November 16, 2021. Other altcoins within the top 10 by market capitalization also declined compared to 24 hours earlier: XRP fell 3.53%, BNB 3.47%, Solana 4.17%, Cardano 3.93%, Dogecoin 9.08%, and TRON 3.56%. Bitcoin futures trading on the Chicago Mercantile Exchange (CME) showed a rebound, with March contracts trading at $81,755, up 3.45%, April contracts at $82,315, up 3.50%, and May contracts at $83,155, up 3.81%. Ethereum March contracts rose 2.06% to $1,906.00, while April contracts increased by 2.72% to $1,927.00. According to Wall Street Journal data, the dollar index fell 0.35% to 103.47. The U.S. 10-year Treasury yield bounced back by 2.4 basis points to 4.240%.