cryptopotato.com
Bitcoin’s price pumped hard yesterday and neared $60,000 after the CPI numbers came out, but lost all momentum and retraced by over two grand.
Most altcoins are quite sluggish on a daily scale. Yet, there are many big losers, such as $BONK, RNDR, $BRETT, PEPE, and WIF.
$BTC Slumps After CPI Pump
The primary cryptocurrency dumped hard last Friday to a multi-month low of under $54,000. The asset bounced off during the weekend and pumped above $58,000, but that was short-lived. In a matter of hours, the bears returned and pushed it south once again.
The start of the business week was more volatile again, with another pump and dump around $58,000 and $55,000. Later on during the week, $BTC tried to exceed $59,000 but failed at its first attempt.
However, the US CPI numbers (yesterday) came back to be better than expected. This resulted in an immediate price surge to a multi-day peak of $59,500. Once again, though, the bears came out of the woods and propelled another leg down, which drove $BTC south by more than two grand.
As of now, bitcoin stands inches above $57,000. Its market cap is under $1.130 trillion, and its dominance over the alts is below 51% on CG.
$BONK Goes Down
Most altcoins went on a similar ride yesterday after the CPI numbers came out, but have calmed and sit on a similar spot as yesterday. ETH, BNB, SOL, DOGE, XRP, and SHIB are slightly in the red, while LINK have dumped by more than 3%.
In contrast, AVAX, TRX, TON, DOT, and ADA are slightly in the green on a daily scale.
The biggest losers from the mid-cap alts are $BONK (-11%), RNDR (-9%), $BRETT (-7%), AKT (-7%), and STRK (-7%).
The total crypto market cap has lost some traction and is down to $2.220 trillion.
