Price analysis 1/18: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

Price analysis 1/18: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX


The United States producer price index (PPI) fell 0.5% for the month, which was much more than the 0.1% decline estimated by economists surveyed by Dow Jones. The largest monthly decline since April 2020 was also aided by a sharp drop in energy prices. 

Another report showed that the retail sales data dropped 1.1% in December, a tad bit more than the anticipated 1% decrease.

Although both data points show inflation is cooling off, the U.S. stock markets failed to hold on to their initial gains. Similarly, several cryptocurrencies sold off from their intraday highs, indicating that traders may have booked profits ahead of the Federal Reserve’s meeting on Feb. 1.

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Daily cryptocurrency market performance. Source: Coin360

The strong crypto recovery in the past few days has seen

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