Crypto Price Today Live: Bitcoin tanks below $27,600; Polygon, Dogecoin decline up to 4%

economictimes.indiatimes.com:

cryptocurrency markets were trading in the red on Tuesday ahead of US inflation data. Bitcoin (BTC) declined 2.14% to $27,580 and Ethereum (ETH) was below the $1,850 level. BTC volume stood at approximately $17.73 billion, rising 32.6% in the last 24 hours. «Bitcoin (BTC) has dropped 7% since Saturday as reports of network congestion and pausing of BTC withdrawals subsequently by Binance has led to market speculation. However, price action continues to demonstrate strong consolidation as we anticipate a rebound later this week. US CPI inflation data will be key to holding this market structure,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. Other top crypto tokens were also trading lower. Polygon declined by over 4%. Litecoin, Dogecoin and XRP were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.14 trillion, falling 1.73% in the last 24 hours.

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The total volume in DeFi is currently 3.27 billion, 7.78% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $37.92 billion, which is 90.29% of the total crypto market 24-hour volume. The market cap of Bitcoin, the world's largest cryptocurrency, was around $534 billion. Bitcoin’s dominance is currently 46.92%, a decrease of 0.17% over the day, according to CoinMarketCap. «The crypto market witnessed new weekly lows as Bitcoin slipped below the $28,000 market on Monday wiping $60