Yesterday, Bitcoin‘s value took a significant hit after the US Consumer Price Index (CPI) was announced, causing its price to drop. However, within hours, Bitcoin bounced back and is now hovering near the $71,000 mark.
In addition, Dogecoin (DOGE), Toncoin (TON), Near Protocol (NEAR), Waves (WIF), VeChain (VET), and Ethereum Classic (ETC) have experienced significant increases in value over the past day or two. Notably, TON and WIF have seen remarkable jumps of approximately 9%.
BTC Challenges $71K
Bitcoin’s price dropped beneath $66,000 on Friday, but it showed signs of recovery over the weekend. On Sunday, it came close to surpassing $70,000. Unfortunately, this upward trend didn’t last long as bears regained control.
On Monday, the bulls accelerated even more, pushing the asset beyond the significant mark. In reality, the cryptocurrency reached a new height of approximately $72,500 towards the end of the day – its highest point in over a month.
Bitcoin’s price took a turn for the worse after the bars re-emerged, causing a significant drop. Yesterday, this downturn intensified when unexpectedly high CPI figures from the US were announced, sending Bitcoin down to $67,500 in a short period of time.
Despite the setback, the asset’s value has nearly bounced back, currently priced at approximately $71,000. Its market value has grown to an impressive $1.4 trillion. Moreover, its control over the altcoins exceeds 50% on CoinGecko’s chart.
UNI Freefalls
Yesterday in the cryptocurrency world, the SEC made headlines once more by announcing its intent to sue Uniswap Labs, the team behind the largest decentralized exchange. Despite the team’s readiness to challenge the regulatory body, UNI’s native token took a significant hit. Currently, UNI is experiencing a 17% decline on a daily basis and is having trouble staying above $10.
Instead, the majority of larger alternative cryptocurrencies are experiencing gains. For instance, Ethereum has surged to $3,600, Binance Coin hovers around $600, Dogecoin has risen by 7%, and TON has jumped by 9%.
More gains come from the likes of WIF (9%), ETC (5%), VET (6%), and NEAR (5%).
The total crypto market cap has erased yesterday’s losses and is up to almost $2.8 trillion.
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2024-04-11 11:56