• Crypto market took a significant hit on Monday, shrinking the total crypto market cap to $1.111 trillion.
• Goldman preview of CPI expected a 0.47% increase in April core CPI and a 0.50% increase in April headline CPI
• Litecoin has taken the lead as the top performer with a gain of 3.30%, while Bitcoin remains relatively stable trading at $27,657
Crypto Market Decline
The crypto market took a significant hit on Monday, with a net outflow of approximately $29.45 billion, shrinking the total crypto market cap to $1.111 trillion. Ethereum and Bitcoin, the two leading cryptocurrencies, were not immune to this downturn, with their market caps falling to $222 billion and $535 billion respectively.
CPI Expectations
Goldman preview of CPI is expecting a 0.47% increase in April core CPI—above cons of 0.3% —corresponding to a YoY rate of 5.59% (vs 5.5% cons). They also expect a 0.50% increase in April headline CPI (vs 0.4% cons), which would raise the YoY rate to 5.09% (vs 5.0% cons).
Top Performers
Amidst the broader cryptocurrency market selloff, Litecoin has taken the lead as the top performer with a gain of 3.30%, while Polygon trails as the day’s most significant decliner recording a loss of 2..66%. BTC’s market dominance (47%) has not been affected at all despite its coin declining by 0..55%. It’s trading at $27,657 as of this writing and Ethereum has seen its price decline by 0..44%, currently trading at 1 848 .
Best Cryptos To Buy Now
While participants anticipate forthcoming CPI figures and despite ongoing pullback certain cryptocurrencies continue to present themselves as viable considerations such as AI, BGB, SPONGE LDO ECOTERRA BCH and YPRED are some best cryptos buy now based on their fundamentals or favorable technical analysis . One such example is AIDoge presale which recently attracted significant attention once again amassing substantial 1 million within day .
Conclusion
In conclusion , although there may be some uncertainty ahead due current state crypto markets , there are still opportunities for investors seeking capitalize potential upside offered by select cryptos based sound fundamentals or favorable technical analysis .