India, March 11 -- Cryptocurrencies are trading deep in the red as anxiety ahead of the crucial consumer price inflation report further dampened sentiment in a market grappling with fears of a recession. Amidst the crypto selloff, overall crypto market capitalization has dropped to a low of $2.61 trillion implying an overnight loss of a little less than 2 percent. More than 75 percent of the top 100 cryptocurrencies are trading with overnight losses of more than a percent.
Consumer price inflation readings for the month of February, the first full month since the start of the second Trump administration is due for release on Wednesday morning.
Headline annual inflation is seen cooling to 2.9 percent versus 3 percent in January and 2.9 per...