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BTC Settles at $62K Ahead of US CPI Numbers, FLOKI Skyrockets 14% (Market Watch)

Bitcoin’s price faced enhanced volatility yesterday morning and later on during the day, but the asset has calmed at around $62,000 ahead of the April US CPI numbers.

Most altcoins are in the red now, though, with ETH declining to $2,900 and BNB losing more than 3% of value.

BTC Calms at $62K

The primary cryptocurrency had a controversial end to the previous week as it had soared to almost $64,000 on Friday when a rapid and violent correction brought it south by more than three grand. As a result, the asset fell to $60,150 at the end of the day.

The bulls managed to intercept the move and didn’t allow a price drop to under $60,000. Just the opposite, BTC reclaimed some ground during the weekend and stood primarily around $61,000. Monday saw a more impressive price increase that pushed bitcoin to just over $63,400.

However, the cryptocurrency failed to maintain its run and dropped back down to $61,200 amid some Coinbase issues. More volatility ensued during the day, but BTC has climbed slightly to just over $62,000 now. More fluctuations are expected later today as the US CPI numbers for April will be announced in a few hours.

As of now, bitcoin’s market cap stands at just over $1.220 trillion, while its dominance over the alts has increased to 51.4%.

Bitcoin/Price/Chart 15.05.2024. Source: TradingView
Bitcoin/Price/Chart 15.05.2024. Source: TradingView

FLOKI Keeps Pumping

Several meme coins charted impressive gains yesterday, and the landscape for a few of them has only gotten better. FLOKI is today’s top performer from the largest 100 crypto assets, having soared by about 14%. As a result, the meme coin now trades at $0.00022.

Pepe (5%) and AR (6%) follow suit, while WLD (-8%), ENA (-8%), TIA (-7%), WIF (-5%), and STX (-5%) have lost the most value within the same timeframe.

BNB, DOGE, ADA, SOL, and AVAX have declined the most from the larger-cap alts, while ETH is close to breaking below $2,900 after another minor correction.

The total crypto market cap has remained at almost the same spot as yesterday, at just under $2.4 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

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Cryptocurrency charts by TradingView.

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