[New York Coin Market/Opening] Caution Prevails Ahead of US CPI … Bitcoin Consolidating Around $83,000

# Cryptocurrency Market Awaits U.S. Inflation Data New York – Jang Dosun, Special Correspondent: The cryptocurrency market remained cautious early on the 12th of New York time, ahead of the release of the U.S. Consumer Price Index (CPI) for February. Bitcoin was consolidating around $83,000. The data, set to be released at 8:30 a.m. Eastern Time (9:30 p.m. Seoul Time), could signal whether U.S. inflation is under control. If the data indicates easing inflation, it could enhance risk appetite; conversely, signs of worsening inflation might deal another blow to risk assets. The digital asset market has been significantly influenced by macroeconomic factors such as the trade wars and recession concerns. Therefore, the CPI data is expected to have a substantial impact. As of 8:10 a.m. on the 12th, the market capitalization of cryptocurrencies stood at $2.69 trillion, up 1.48% from 24 hours earlier, according to CoinMarketCap. This level matches the close of the New York Stock Exchange on the prior day. The 24-hour trading volume in the cryptocurrency market was $118.4 billion, down 23.62%. Bitcoin's dominance was 61.2%, while Ethereum's dominance stood at 8.6%. The Fear & Greed Index for the cryptocurrency market rose by 4 points to 19, still indicating a state of extreme fear. At this time, Bitcoin was trading at $83,091 on CoinMarketCap, up 1.75% from 24 hours ago. It had peaked at $83,737 in the Asian session overnight and had hit a low of $79,059 during the previous New York session. Bitcoin has been undergoing a correction since reaching an all-time high of $109,114 on January 20th. Ethereum was trading at $1,915, up 0.28%. The all-time high for Ethereum was $4,891.70, set on November 16, 2021. Other altcoins in the top 10 market cap rankings also posted gains except for Tron, which fell by 2.56%. XRP rose by 2.70%, BNB by 2.08%, Solana by 1.97%, Cardano by 1.90%, and Dogecoin surged by 4.68%. Bitcoin futures listed on the Chicago Mercantile Exchange (CME) reflected a mixed performance. The March contract fell by 0.43% to $83,040, the April contract dropped by 0.35% to $83,660, and the May contract decreased by 0.49% to $84,145. Ethereum futures for March declined by 2.07% to $1,917.00, April futures fell by 2.29% to $1,923.00, and May futures retreated by 3.20% to $1,918.50. According to Wall Street Journal data, the Dollar Index dipped by 0.23% to 103.60. The yield on the 10-year U.S. Treasury note rebounded by 1.8 basis points to 4.303%.