Crypto Market Overview: The overall market capitalization of cryptocurrencies increased by 3% in the last day to reach $2.25 trillion, indicating that the industry is trending upward globally. A notable increase of 53.90% in 24-hour trading volumes indicates a general increase in investor activity. At 45, the Fear & Greed Index indicates a neutral attitude as the market edges closer to more significant moves.
Bitcoin Price Analysis: BTC Eyes More Gains Amid US PPI Data
The price of bitcoin has risen by 3.73% during the last day, surpassing the $64,000 mark and currently trading at $65,036.27. This comes after statistics from the US Producer Price Index (PPI) indicated a balance between declining goods prices and rising service costs. With a 56.9% market share, Bitcoin continues to dominate and is further shaping the trajectory of the market.
Interested about BTC’s future price targets? Our Bitcoin Price Prediction answers that and much more!
Are Altcoins Signaling the Start of an Altseason?
While Bitcoin retains its lead, the signals of an altseason are difficult to ignore. Ethereum (ETH), which has a 13.6% market share, is up 3.27%, trading at $2,544.65. The MACD on the altcoins’ market cap chart showed a positive crossover on the weekly close, signaling the start of the previous altseason. Altcoins may have substantial upward momentum, with Solana (SOL) increasing 4.07% and XRP up 1.29%.
Keen on the long-term price targets of ETH? Read our Ethereum Price Prediction
Top Gainers:
Ethena (ETH) surged 20.51% to $0.4061. Brett (BRE) and Worldcoin (WDC) follow closely, with gains of 17.15% and 15.06%, respectively.
Top Losers:
Popcat (POP) has slipped 6.18%, and Tron (TRX) and Chiliz (CHZ) also saw slight losses, down by 1.70% and 1.47%, respectively.
Subscribe to us, to stay tuned for daily updates to keep up with the latest in cryptocurrency!
