From Investing.com: 2024-05-14 14:30:26

The cryptocurrency market is facing selling pressure as Bitcoin drops below $62,000, putting 5.1 million Bitcoin addresses at risk of losses.

5.1 million Bitcoin addresses bought BTC above $62,000 and the ATH of $72,500, with Bitcoin trading at around $62,540 at the time.

BTC fell 1.34% to $61,931 in the last 24 hours as investors awaited inflation data and Fed comments on monetary policy.

Investors are eagerly awaiting inflation data, including the April producer price index and consumer price index, which could impact rate cut prospects.

Digital asset investment products saw $130 million in inflows, with Bitcoin receiving $144 million, signaling some positivity amidst market indecision.

Read more at Investing.com: 5.1 Million BTC Addresses Risk Losses Amid Bitcoin’s Dip Below $62,000 By U.Today