Today’s cryptocurrency market showcased a strong recovery following an initial dip after the release of the US CPI for August. Bitcoin and altcoins surged, with Bitcoin surpassing $58,000. BTC is currently trading at $58,257, up by 3.3%, with a market cap of $1.150 trillion. Ethereum, Binance Coin, Solana, and XRP also saw gains ranging from 2-5%.
The total cryptocurrency market capitalization increased by 1.38% to reach $2.04 trillion. Trading volume spiked by 18.90% in the past 24 hours, totaling $72.25 billion. The top cryptocurrencies by market cap experienced movements on September 12.
Bitcoin crossed the $58,000 mark, ETH and SOL each gained close to 1%, while XRP saw marginal gains, hinting at a positive market sentiment among participants.
BTC’s price surged by 2.5% to $58,258 within 24 hours, despite outflows in Bitcoin ETFs. Ethereum followed suit, climbing to $2,370 with a gain of nearly 1%. SOL rose by 1.5% to $135.72, and XRP inched up by 0.7% to $0.5374.
Notably, meme coins like Dogecoin and Shiba Inu ticked up by 1%, while SUI, BNX, and OM prices recorded significant gains of 13%, 7%, and 7%, respectively. Conversely, NOT, WIF, and WLD experienced losses of 3%, 3%, and 2.5% each.
Optimism prevailed in the market as hourly time frame charts showed an increase of 0.21% for BTC and 0.22% for ETH. The upbeat movements painted a positive picture for cryptocurrency prices on September 12.