Cryptocurrency prices today: Bitcoin rebounded to $94.8 thousand; Dogecoin and Hedera rise more than 3%

Cryptocurrency prices are showing signs of recovery today, after a surprise drop on Monday, ahead of the US Consumer Price Index (CPI) report scheduled for release on Wednesday. Bitcoinwhich fell to $89,000, a level not seen in 24 days, rebounded strongly.

As of 11:00 AM EST, Bitcoin was trading at $94,856, up 1.2%, after hitting an intraday low of $89,260. Ethereum It fell 0.9% to $3,174. Meanwhile, the global cryptocurrency market capitalization saw a 1% rise, reaching $3.29 trillion.

“Bitcoin found strong support at $89,200 and quickly rebounded to $94,800,” said Idul Patel, CEO of Bitcoin. While investor caution ahead of key economic data led to an initial decline, the market quickly recovered after reports of former President Trump planning executive orders. Cryptocurrency friendly. Modrex.

“Furthermore, institutional moves, such as the launch of Bitcoin ETFs from BlackRock in Canada and the $243 million purchase of Bitcoin from MicroStrategy, further boosted market sentiment, helping Bitcoin regain momentum. Bitcoin’s support level has now moved to $90,900, with resistance at $96,600, indicating renewed confidence.” Patel added.Read also: Bitcoin in 2025: Risk or opportunity for loyal investors?

Another major one Alternative currencies It also saw significant gains on Tuesday. XRP rose 2.35%, BNB gained 1%, and Solana increased 1.8%. Dogecoin led the pack with a 4.6% increase, followed by Cardano (2.1%), Toncoin (1%), Shiba Inu (1.75%), Chainlink (2%), and Hedera (3.4%).

“XRP, BNB and Sui posted modest gains, with Dogecoin outperforming the market with a 4% rise. Altcoins are expected to gradually catch up as Bitcoin strengthens and dominates at these levels,” said Vikram Subburaj, CEO of Giottus.

Size of all stablecoins It now stands at $156.68 billion, representing 92.61% of the total 24-hour cryptocurrency market volume, according to data available on CoinMarketCap.

In the past 24 hours, the market value of Bitcoin, the world’s largest cryptocurrency, rose to $1.879 trillion. Bitcoin dominance currently stands at 57.19%, according to CoinMarketCap. Bitcoin volume in the past 24 hours increased by 139.6% to $71.3 billion.

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