Bitcoin retraced heavily yesterday after the US CPI numbers came out, but the asset didn’t stay down for long and skyrocketed to another multi-year peak price of over $51,500 minutes ago.It’s safe to say that last week was among the most positive ones for the primary cryptocurrency in recent history, as the assetsince December 2021 after a double-digit gain.
The landscape changed on Tuesday, especially after the latest US CPI data came out. The asset reacted negatively to the news and slumped by nearly two grand in hours. Yet, Bitcoin seems to be in quite a bullish mood and doesn’t tend to stay low for long. Just hours after that retracement, it found itself knocking on the $50,000 door again and, asThis is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:This time, the bulls drove it even further north, tapping a new multi-year peak at $51,600 .
Binance Coin, Solana, Ripple, Cardano, Avalanche, Dogecoin, Chainlink, and Polygon are also in the green today. With most lower- and mid-cap alts charting impressive gains over the past 24 hours as well, it’s no wonder that the total crypto market cap is up by another $50 billion in a day and sits above $1.9 trillion on CMC.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions.
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