Bitcoin Price Slips to $78K as Altcoin Market Bleeds Ahead of US Inflation Data

The cryptocurrency market is experiencing a correction ahead of key economic data releases in the US. Bitcoin's price has dropped to around $78,000 after being rejected at $80,000 earlier this week.

Ethereum has fared relatively well during today's correction, dipping by only 1.5% to under $2,500. In contrast, other altcoins like BNB, DOGE, XLM, and LINK have marked significant losses of up to 7%.

PONS has taken the biggest hit among large-cap altcoins, plummeting by over 26% to under $0.60. The cumulative market cap of all crypto assets has declined by over 2% in the past day.