Bitcoin is priced at $24,600
While the total market value of cryptocurrencies increased to $1 trillion 116 million, Bitcoin started the day at $24,600, gaining 13% in the last 24 hours.
The total value of the crypto money market, which started to rise after the US CPI data on Tuesday, increased by 86 billion dollars compared to yesterday and rose to 1 trillion 116 million dollars. In the last 24 hours, Bitcoin has risen by around 13%, reaching its highest level in the last six months. The leading altcoin Ethereum also rose around 11%, and other altcoins gradually followed, around 10%. With this rise, the crypto market has been positively differentiated from the global markets.
Bitcoin is priced at $24,600
Following the tension of the SEC's "no-registered securities" announcement for the BUSD stablecoin, the expectation that new stablecoins will enter the market is quite positive, with Binance CEO CZ saying "I think we will see more euro, Japanese yen, Singapore dollar-based stablecoins". reflected. With these developments, Bitcoin is priced at $ 24,600 this morning, while Ethereum is trying to protect the $ 1680 region.
While Bitcoin dominance continues to rise at 44.5, Ethereum dominance shows sideways negative activity of 19.2. The PPI data coming from the USA at 16:30 today is among the important data we will follow. PPI is expected to increase by 0.4% monthly in January and the annual rate of increase is expected to decrease from 6.2% to 5.4%. If the data is lower than expected, the expectation that the Fed's interest rate hikes are coming to an end may strengthen and continue to have a positive effect on the market.
