Leading cryptocurrencies charged higher Tuesday amid softer-than-expected wholesale inflation data.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +2.53% | $97,071.13 |
| Ethereum (CRYPTO: ETH) |
+2.83% | $3,219.18 |
| Dogecoin (CRYPTO: DOGE) | +5.58% | $0.3576 |
What Happened: Bitcoin soared to a weekly high of $97,350 early this morning, holding on to its gains for the remainder of the day.
The dramatic turnaround comes just a day after the leading cryptocurrency slipped below $90,000 for the first time since November 2024.
Ethereum, the second-largest cryptocurrency, reclaimed the $3,200 zone a day after dipping below $3,000.
About $185 million were liquidated from the cryptocurrency market in the last 24 hours, with bearish bets accounting for $122 million.
The percentage of Binance traders going long on Bitcoin dipped from 62% to 55% in the last 24 hours, suggesting that the market was bracing for another correction.
The “Greed” sentiment strengthened from 63 to 70 in the last 24 hours, according to the Crypto Fear & Greed Index
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