Crypto Market Retreats to Support Levels Amid US Inflation Data

The crypto market saw a retreat to support levels as investors digested recent US inflation data. The market capitalization fell by 1.1% to $2.63 trillion, but remains within its consolidation range seen over the last few days.

Bitcoin hit an eight-day low of below $77,000 on Thursday, and is pulling back from its 50-week moving average on weekly charts. However, it's currently finding support from buyers at the lower boundary of the consolidation range.

Ethereum has been trading sideways for some time, unable to break above $2,500. Resistance for Ethereum is intensifying at the 200-week moving average, which it has not yet broken through.