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Bitcoin Moves Sideways, Ethereum, Dogecoin Gain Ahead Of Key Inflation Data Release: Analyst Says Bias To Remain Neutral Or Bearish Until This Happens

ET) Bitcoin Breaks Out of Range, Eyes Key Resistance Level
Bitcoin (BTC-USD) continued to trade within a tight range on Wednesday, as investors await key inflation data due to be released Thursday. The largest cryptocurrency by market value traded in a range of $32,000 to $34,000, with a slight uptick towards the end of the day. BTC is currently trading at $33,500, up 2.5% in the past 24 hours. Ethereum Surges as Investors Anticipate Upcoming Upgrade
Ethereum (ETH-USD) saw a surge in price on Wednesday, gaining 5% in the past 24 hours. The second-largest cryptocurrency is currently trading at $2,200. Investors are anticipating the upcoming Ethereum upgrade, known as the London hard fork, which is expected to make the network more efficient and reduce transaction fees. Dogecoin Rallies Despite Elon Musk's Mixed Messages
Dogecoin (DOGE-USD) continued its rally on Wednesday, gaining 8% in the past 24 hours. The meme-inspired cryptocurrency is currently trading at $0.23. Despite Elon Musk's mixed messages about DOGE, the coin's popularity and price continue to rise as more retailers and companies accept it as a form of payment. Cryptocurrency Market Awaits Key Inflation Data
All eyes are on the upcoming inflation data, which is expected to have a significant impact on the cryptocurrency market. Investors are hoping that a higher-than-expected inflation rate will drive up demand for cryptocurrencies as a hedge against inflation. Crypto tickers such as BTC, ETH, and DOGE are expected to see increased activity in the coming days. Trending Hashtags: #Bitcoin #Ethereum #Dogecoin #Cryptocurrency #Inflation
As the cryptocurrency market braces for the impact of inflation data, trending hashtags such as #Bitcoin, #Ethereum, #Dogecoin, #Cryptocurrency, and #Inflation are gaining traction on social media. These hashtags allow investors to stay updated on the latest developments and discussions surrounding the market and specific cryptocurrencies.


Sentiment Result : Neutral

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