Bitcoin retreats to $78K amid broad market selloff; PONS down 26%, altcoins off 5–7% ahead of US inflation data.
Macro & Markets ·
Bitcoin has retreated to $78,000 after failing to hold above $80,000, with a stronger-than-expected US jobs report intensifying selling pressure on Friday. The pullback marks the second rejection at that resistance level this week, following an earlier spike to over $82,400. Major altcoins have declined between 5% and 7%, including BNB, DOGE, XLM, LINK, CRO, and UNI, while PONS has dropped over 26% to below $0.60, marking the steepest loss among the largest 100 altcoins. Other notable decliners include DASH, LIT, and ARB, each down roughly 13% to 14%.
The broader cryptocurrency market cap has declined by more than 2% to $2.660 trillion as traders brace for two significant macroeconomic releases: US Producer Price Index data today and Consumer Price Index data tomorrow. Bitcoin's dominance over altcoins remains elevated at 59%, while Ethereum has weathered the selloff with a more modest 1.5% dip to under $2,500.
What remains unclear is whether the market will stabilize ahead of the CPI print or if additional data releases will drive further downside in the coming days.