Bitcoin and altcoin prices rise ahead of US CPI data

The cryptocurrency market was looming today due to US Consumer Price Index (CPI) inflation data, which could shape the market in the short term. This has left the Fear and Greed Index at a neutral score of 51, highlighting that marketers are waiting for confirmation. Speaking of numbers, the market cap rose 1.87% on the day to reach $3.37 trillion. On the other hand, business volume decreased significantly by 26.43%, to settle at $127.16 billion.

Bitcoin price exceeds $96,000

Bitcoin is building momentum despite market uncertainty. In the last 24 hours, it posted a 1.90% gain to claim a price of $96,946.80. Respectively, its market value increased by 1.95% to reach $1.92 trillion. However, trading volume rose by 23.76% to $55.16 billion, indicating a possible pullback due to the upcoming inflation report.

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Altcoins Today: XRP Price Reaches 11.71%

On the daily charts, Ethereum price rose by 1.89% to $3,227.81, cementing its position as the leading altcoin. Solana also followed suit, rising 1.85% to $188.89. However, XRP stole the show with an exceptional rise of 11.71%, gaining $2.83.

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Top winners and losers

While bullish tokens have had a strong market, smaller value tokens have had mixed performances. XDC Network emerged as the biggest gainer, rising 17.51% to $0.1153. AI16Z and DeXe also posted significant gains of 16.01% and 14.47% respectively. In contrast, Fartcoin and Ondo faced a sell-off, sending prices down by 7.06% and 3.04%, while Sui fell by 1.85%.

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