Bitcoin and Ethereum Plunge: What Inflation Data Means for Crypto Market

Market Update: Panic in the Crypto Market

The cryptocurrency market is experiencing significant turmoil as Bitcoin, Ethereum, and XRP face steep declines ahead of the upcoming US inflation data. As of Tuesday afternoon, Bitcoin is down 2.88% at $107,770, while Ethereum has dropped 4.35% to $3,868. Other major altcoins are also under pressure, with BNB falling 4.95% to $1,070 and XRP decreasing by 2.36% to $2.41. The overall crypto market has shrunk by 3.15% in the last 24 hours, now valued at $3.65 trillion, according to CoinMarketCap.

"Even if the CPI data slightly exceeds expectations, it is unlikely to cause a massive market movement," says Tim Sun, a senior analyst at HashKey Group.

The focus is now on the Consumer Price Index (CPI) report set to be released on Friday, which is the first significant inflation report since the US government shutdown began on October 1. This report could heavily influence the Federal Reserve's decisions in their next meeting. Analysts predict a rise in inflation to 3.1% from the previous 2.9%.

Source: Wallstreet Online

Evernorth's Planned IPO and XRP Treasury

Evernorth Holdings is preparing for a significant IPO through a merger with Armada Acquisition Corp, aiming to raise up to $1 billion to establish a treasury focused on XRP. The company has garnered support from major players in the industry, including SBI Holdings, which is contributing $200 million. The majority of the proceeds will be used to purchase XRP on the open market, establishing what Evernorth calls the "world's leading institutional XRP treasury."

"This approach aims to generate returns for our shareholders while promoting the use and acceptance of XRP," states Asheesh Birla, CEO of Evernorth.

The merger is expected to be completed in the first quarter of 2026, pending regulatory and shareholder approvals. Ripple executives will serve as strategic advisors to ensure alignment with the XRP ecosystem while maintaining Evernorth's operational independence.

Source: DE.COM

XRP's Market Performance and Future Prospects

The XRP price has shown signs of recovery after a significant correction, currently trading around $2.45. Technical indicators such as the RSI and MACD are signaling bullish momentum, suggesting that XRP may be entering a new growth phase. Analysts are optimistic about the potential for XRP to reach new all-time highs if it can break through current resistance levels.

"The current structure suggests that XRP is in the overarching wave 5, indicating further upward potential," notes a market analyst.

Should XRP maintain its momentum and surpass recent highs, it could target a price range between $5.65 and $13, based on Fibonacci extensions.

Source: Bitcoin2Go

Concerns Over Bitcoin Security Amidst Quantum Computing Rumors

Recent rumors have emerged suggesting that a US quantum computing team has successfully hacked several Bitcoin wallets belonging to major institutions, potentially worth over $15 billion. Although these claims remain unverified, they have sparked panic among global investors, causing significant price fluctuations in Bitcoin, Ripple, and Binance Coin.

In response to the market chaos, some investors are turning to IOTA Miner, a cloud mining platform that combines renewable energy with stable income opportunities. IOTA Miner offers a free contract worth $15, providing a daily income of $0.60, and has passed compliance checks by FinCEN.

Source: Wallstreet Online

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