Price analysis 2/24: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, SHIB


© Reuters

is struggling to stay above $23,000 as the weekend approaches. The selling pressure increased after the personal consumption expenditures excluding food and energy rose 0.6% in January and 4.7% over the year, above market expectations of an increase of 0.5% and 4.4% respectively.

This could trigger fears that the United States Federal Reserve may have to continue its rate hikes to bring inflation under control. Expectations of a rate hike could strengthen the further, which is already near a seven-week high, and that may put pressure on the cryptocurrency markets in the near term.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
MATIC/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
SHIB/USDT daily chart. Source: TradingView