Cryptocurrencies broke record!

After the Shanghai (Shapella) update, Ethereum showed an increase of 12% and tested the level of $ 2,128, the highest of the last 11 months. Bitcoin, on the other hand, followed Ethereum and tested the level of $31,000, the top of the last 10 months. Along with the major cryptos that continue to rise this morning from the crypto market, which constantly refreshes its 2023 records, there are increases of around 5% in altcoins. With the total value of the crypto market increasing by around 5% in 2 days, it is moving above the 1.25 trillion dollars levels this morning.

Bitcoin and Ethereum have been going up

Surprisingly, the PPI data from the USA came in well below the expectations, and the sharpest decrease since April 2020 took place. In addition, although the data on applications to benefit from unemployment benefits remained close to the four-week average, the risk appetite increased in the markets with the expectation that the FED might be approaching the end of interest rate hikes. After the data, the dollar index fell to the lowest levels of the last year, while the ounce price of gold saw the peak of a year, and the US stock markets also made positive closings, led by the increases in the crypto money market.

While Bitcoin is moving around $30,900 this morning, Ethereum is finding buyers above $2,110. After seeing the peak of the last 8 months 3 days ago, Bitcoin dominance fell and Ethereum's market dominance increased to 20.3% with the effect of Ethereum Shanghai (Shapella) update, causing it to move in altcoins that have been under pressure for a long time. More positive divergence of some altcoins draws attention. Yesterday, TOMO, WOO, LDO and ANT stand out as the most profitable cryptocurrencies of the day.

While leaving the most important data of the week behind, FED member Waller's speech is among the ones to follow on the macro agenda today.