Markets
BTC Closes at $62K Ahead of US CPI Numbers, FLOKI Soars 14% (Market Watch)
Bitcoin price faced increased volatility yesterday morning and later in the day, but the asset calmed down to around $62,000 ahead of April’s US CPI numbers.
Most altcoins are in the red now, however, with ETH falling to $2,900 and BNB losing more than 3% of its value.
BTC calms down at US$62 thousand
The leading cryptocurrency had a controversial end to the previous week as it soared to nearly $64,000 on Friday as a quick and violent correction sent it south by more than three thousand dollars. As a result, the asset fell to $60,150 at the end of the day.
The bulls managed to intercept the movement and did not allow the price to fall below $60,000. On the contrary, BTC recovered some ground over the weekend and mostly hovered around $61,000. Monday saw more impressive price increase this pushed bitcoin to just over $63,400.
However, the cryptocurrency failed to maintain its run and fell to $61,200 amid some Coinbase problems. More volatility occurred during the day, but BTC has risen slightly to just over $62,000 now. More fluctuations are expected later today as US CPI numbers for April will be announced in a few hours.
As of now, bitcoin’s market cap is just over $1.220 trillion, while its dominance over alts has increased to 51.4%.
Bitcoin/Price/Chart 15.05.2024. Source: TradingView
FLOKI keeps pumping
Several meme coins made impressive gains yesterday, and the outlook for some of them has only improved. FLOKI is currently the best performer among the top 100 crypto assets, having soared around 14%. As a result, the meme coin now trades at $0.00022.
Pepe (5%) and AR (6%) follow suit, while WLD (-8%), ENA (-8%), TIA (-7%), WIF (-5%) and STX (-5%) have lost more value in the same period.
BNB, DOGE, ADA, SOL, and AVAX fell the most among large-cap alts, while ETH is close to breaking below $2,900 after another small correction.
The total crypto market capitalization remained at almost the same level as yesterday, just under $2.4 trillion.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive $600 welcome offer on Binance (Full details).
LIMITED OFFER 2024 for CryptoPotato readers on Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!
Disclaimer: Information found on CryptoPotato is from the cited writers. It does not represent CryptoPotato’s views regarding buying, selling or holding any investments. We advise that you conduct your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more information.
Cryptocurrency Charts by TradingView.