BTC Set at $62,000 Ahead of US CPI Numbers, FLOKI Soars 14% (Market Watch)

Bitcoin price faced increased volatility yesterday morning and later in the day, but the asset has calmed down around $62,000 ahead of the April US CPI numbers.

However, most altcoins are in the red now, with ETH falling to $2,900 and BNB losing over 3% of value.

BTC calms at $62,000

The major cryptocurrency had a controversial end to the previous week, having soared to nearly $64,000 on Friday, when a quick and violent correction took it south by more than three thousand. As a result, the asset fell to $60,150 by the end of the day.

The bulls managed to intercept the move and did not allow a price drop below $60,000. On the contrary, BTC regained some ground over the weekend and mainly settled around $61,000. Monday saw a more impressive price surge that pushed bitcoin to just over $63,400.

However, the cryptocurrency was unable to sustain its run and fell back to $61,200 amid some Coinbase issues. More volatility ensued during the day, but BTC is now up slightly to just over $62,000. More volatility is expected later today as April US CPI figures are due in a few hours.

As of now, bitcoin’s market capitalization stands at just over $1.22 trillion, while its dominance over the highs has increased to 51.4%.

Bitcoin/Price/Chart 15.05.2024. Source: TradingView FLOKI Keeps Pumping

Several meme coins posted impressive gains yesterday, and the outlook for some of them has only gotten better. FLOKI is the current best performer among the 100 largest crypto assets, having risen 14%. As a result, the meme coin is now trading at $0.00022.

Pepe (5%) and AR (6%) follow the same, while WLD (-8%), ENA (-8%), TIA (-7%), WIF (-5%) and STX (-5%) ) have lost more value in the same time period.

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

The total crypto market cap has stayed pretty much where it was yesterday at just under $2.4 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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