BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

U.S. stock markets and cryptocurrency markets were rising until the Sept. 13 release of August consumer price index data, but the rally collapsed when the data showed inflation rising instead of falling.

The negative data dashed any hopes of a Federal Reserve turnaround in the near future and caused a sharp drop in risk assets. The market capitalization of US stocks fell by about $1.6 trillion on September 13, and the market capitalization of cryptocurrency fell below $1 trillion.

Daily cryptocurrency market performance. Source: Coin360

Statistician and independent market analyst Willy Woo believes that Bitcoin (BTC) may need to fall further before reaching the maximum pain experienced during previous bottoms. Woo expects the price of Bitcoin to fall below $10,000.

Could Bitcoin and altcoins continue their downtrend? Let’s study the charts of the top 10 cryptocurrencies to find out.