Cryptocurrency Market Plummets Amid Rising Inflation Fears

Cryptocurrency markets faced significant downturns recently, with Bitcoin dipping below $85,000 amid renewed inflation fears and uncertainty surrounding President Trump's trade policies. Large transaction volumes decreased, and there was a notable rise in liquidations, with nearly $443 million lost in the last day. Traders are divided on Bitcoin's future, with some predicting a potential dip to $70,000, while others see bullish patterns if it can close above $89,000. The overall market sentiment remains cautious, with fears reflected in the Crypto Fear and Greed Index. Additionally, the meme coin sector is evolving, with new projects like PepeX focusing on transparency and accessibility amidst ongoing market pressures. Despite these challenges, Dogecoin is on track to achieve its third consecutive week of gains, albeit within a tight trading range.