Bitcoin Rises Above $58,000, BNB and ADA Jump by 6%

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. BTC North of $58K
  2. BNB, ADA on a Roll
  3. Cryptocurrency Market Overview


    4. Bitcoin has faced increased volatility following the latest Consumer Price Index (CPI) data from the US but has managed to record significant gains, peaking above $58,000. Most altcoins have followed suit, with BNB and ADA charting 5-6% daily increases.

    BTC North of $58K

    Bitcoin’s weekend was somewhat sluggish as the asset had fallen below $53,000 on Friday but stood primarily above $54,000 on Saturday and Sunday. The beginning of the new business week started with a minor increase toward $55,000 before the asset surged to over $58,000 later on. Despite failing to overcome that level twice by Wednesday, it slumped to $55,500 after the US CPI numbers were released. These hold particular significance for investors as the next FOMC meeting is scheduled to take place next week, and the Fed is expected to cut the interest rates by 25 basis points. BTC initially reacted negatively to the news as it dumped from $57,000 to $55,500. However, the bulls regrouped and initiated a notable leg up that pushed bitcoin to an 8-day peak of almost $58,500 earlier today. Although failing to conquer that level yet, BTC is still more than 3% up on the day.

    BNB, ADA on a Roll

    Almost the entire altcoin field is in the green today. ETH, SOL, XRP, DOGE, TRX, and SHIB have charted minor gains, but ADA and BNB have surged by 6%. As a result, Cardano’s native token stands at $0.35, while Binance Coin is close to $545.

    Cryptocurrency Market Overview

    Other impressive gainers from the larger-cap alts include NEAR (7.5%), KAS (5%), FET (5%), and STX (6%). SUI has emerged as the top performer by surging with over 15%, now trading above $1. The total crypto market cap has added over $35 billion since yesterday, now close to $2.140 trillion.

    The cryptocurrency market continues to show significant volatility, but Bitcoin and altcoins like BNB and ADA are demonstrating strong growth. Investors are anticipating the upcoming FOMC meeting which could influence market movements further.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Meta Platforms' Shares Surge Following AI Assistant Launch

chest

Meta Platforms' shares rose over 6% after the launch of its AI assistant, Muse, which helps users manage tasks and goals.

user avatarTomas Novak

Galaxy Announces $5 Million Funding for Bitcoin Quantum Security Research

chest

Galaxy announced up to $5 million in funding for Bitcoin quantum-security work, including developer grants, research, and an advisory council.

user avatarMaya Lundqvist

IonQ Launches Superion 256 Quantum Computer with Orders Open for 2027 Delivery

chest

IonQ has launched its Superion 256 quantum computer, opening orders for delivery in 2027.

user avatarKaterina Papadopoulou

Prediction Markets Show Shifts in Oil Price Expectations

chest

Prediction markets are reacting to oil price fluctuations, with traders speculating on whether crude will reach $120 or fall to $55 first.

user avatarAisha Farooq

Record Diesel Prices Hit Ahead of Midterm Elections

chest

Record diesel prices reached a high of 594 a gallon, raising concerns about consumer affordability ahead of the midterm elections.

user avatarLi Weicheng

Brent Crude Surpasses $100 Amid Geopolitical Tensions

chest

Brent crude oil prices rose above $100 for the first time in six weeks due to geopolitical tensions, including attacks on Saudi oil facilities and US military responses.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.