Bitcoin Tests $90,000 Briefly Ahead of US Inflation Data
Bitcoin price is back to $88,000 ahead of US consumer price index data today, from $90,000. As a result of this, the global crypto market cap has settled at $2.91 trillion, a 0.58% decrease over the last day. The market expects US inflation data to be release Wednesday with mixed expectation.
After Donald Trump presidential election victory, the cryptocurrency market has been heated up with buying momentum that lifted prices of digital assets. The total crypto market volume over the last 24 hours is $269.21 billion, according to data from the CoinMarketCap.com, which makes a 24.73% decrease.
In addition, the total volume in DeFi settled at $12.13 billion, accounting for 4.50% of the total crypto market 24-hour volume. Data from the Exchange also showed that the volume of all stable coins is now at $246.04 billion, which is 91.39% of the total crypto market 24-hour volume.
Bitcoin (BTC-USD) surged toward $90,000 on Tuesday, extending a rally to a record, while other major digital assets retreated. The CoinDesk Market Index, which tracks 126 digital assets, was up 1.9% in the past 24 hours. The Nasdaq 100 eased 0.1%, the S&P 500 shed 0.3% and the Dow Jones Industrial Average dropped 0.9%.
Bitcoin was 2.7% higher at $89,741 with a 24-hour trading volume of $148.4 billion, up 42%. The most popular cryptocurrency reached a record $89,956 earlier, according to CoinMarketCap data.
Ethereum (ETH-USD), the second-largest digital asset, fell 1.8% to $3,301. Solana (SOL-USD) slumped 3.5%, while BNB (BNB-USD) dropped 1.6%. Dogecoin (DOGE-USD) surged 17% and XRP (XRP-USD) gained 14%, while Cardano (ADA-USD) lost 5.3%.
The US 10-year Treasury yield closed at 4.429%, up from Monday’s close of 4.304%, while the five-year yield was at 4.312%, up from 4.192%. Bitcoin’s dominance is currently 59.63%, an increase of 0.63% over the day. #Bitcoin Tests $90,000 briefly ahead of US Inflation Data Bitcoin Hits $87,000, Crypto Market Cap Nears $3 Trillion
