Bitcoin and other major cryptocurrencies are witnessing a pullback in value early on Friday, following the release of inflation data that raised concerns among traders. As the market adjusts, Bitcoin (BTC) is priced at around $118,996.80, while Ethereum (ETH) stands at approximately $4,641.03.

Despite the downturn, traders remain optimistic, viewing this pullback as a temporary correction rather than a significant trend shift. They highlight that significant transaction volumes for Bitcoin and Ethereum continue to exhibit strength even in challenging conditions.

As market trends fluctuate, it is essential for investors to stay vigilant and aware of the factors influencing price movements. The current market climate presents both challenges and opportunities for traders to capitalize on.