After riding a quick bullish wave, the crypto market is turning cautious today as Bitcoin tops $110K and pulls back. Various altcoins have retreated from the daily high following a slight downturn in large-cap alts like Ethereum, Solana and XRP.
While analysts expect a new all-time high for Bitcoin price this week, the anticipation around a bullish reversal is spreading optimism among investors. However, the release of CPI data by FED is due today and it is expected to drive significant volatility into the market.
Marking a new weekly high at $110,330, Bitcoin has pulled back in a steady downward trend with it currently trading at $109,218 at the time of publication. The 24 hour trading volume for Bitcoin has declined 10.49% today, sitting at $51.57 billion,
Source: CoinMarketCap
Bitcoin is currently just 2.3% away from breaking above a new all-time high, a move which will likely play out if the CPI data comes out in the favor of investors.
While surging past the $2,800 price mark, Ethereum is currently trading at $2,765–down notably from the daily high. Other leading altcoins—including Solana, XRP and BNB—have also fallen back near daily opening levels ahead of the U.S. market opening.
Trending Crypto Today
- SOL (Solana)
- ETH (Ethereum)
- HOME (DeFi App)
- RESOLV (Resolv)
- ZKJ (Polyhedra Network)
Top Gainers and Losers Today
Among top performers, KAIA has spiked the most today with it surging over 17% in the past 24 hours, followed by JTO, SPX, XDC and A token. Meanwhile WIF, CRV, TAO, ZEC and INJ are among top losers.
| KAIA (Kaia): +17% | WIF (Dogewifhat): -7% |
| JTO (Jito): +11% | CRV (Curve DAO): -6% |
| SPX (SPX6900): +7% | TAO (Bittensor): -6% |
| XDC (XDC Network): +6% | ZEC (Zcash): -5% |
| A (Vaulta): +6% | INJ (Injective): -5% |
Crypto Market Cap Overview
As per CoinMarketCap data, the global crypto market cap today sits at $3.43 trillion in valuation, with a 24 hour trading volume of $133 billion.
