40-Year Analyst Peter Brandt Speaks After Market Drop: “This Altcoin Looks Very Negative”

Experienced market analyst Peter Brandt shared his latest assessments of the cryptocurrency market. “I'm sharing what I see. I have strong opinions, but I'm always flexible. I could be wrong as well as ￰0￱ XRP chart looks potentially very negative,” Brandt said on social ￰1￱ pressure intensified in the cryptocurrency market on the final trading day of the ￰2￱ (BTC) fell 3.62% to $108,498.88 following the release of US inflation data, while Ethereum (ETH) fell 5.01% to $4,285.71.

Related News: $5 Billion Bitcoin Whale Makes New Move: But This Time, It Didn't Buy BTC US economic data contributed to the weak market ￰3￱ to a report published by the Bureau of Economic Analysis (BEA), personal consumption expenditures (PCE) increased by 0.5% in ￰4￱ PCE price index rose by 0.2% month-over-month and 2.6% year-over-year, in line with ￰5￱ data reinforced expectations that the Fed would keep interest rates high, fueling selling pressure on risk assets. Furthermore, the final August Consumer Confidence Index released by the University of Michigan fell 6% from July to 58.2, representing a 14.3% year-over-year loss. *This is not investment ￰6￱ Reading: 40-Year Analyst Peter Brandt Speaks After Market Drop: “This Altcoin Looks Very Negative”