Leading cryptocurrencies surged Wednesday amid softer-than-expected consumer inflation and a friendlier regulatory environment under Donald Trump.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +3.08% | $99,743.07 |
| Ethereum (CRYPTO: ETH) |
+5.46% | $3,394.95 |
| Dogecoin (CRYPTO: DOGE) | +5.54% | $0.3787 |
What Happened: Bitcoin topped the $100,000 mark for the first time in nearly 10 days as the leading cryptocurrency reacted to key bullish developments.
While the latest Consumer Price Index data showed hints of slowing inflation, a report raised hopes for clear cryptocurrency regulations under new SEC leadership.
Ethereum, the second-largest cryptocurrency, reentered the $3.400 zone, hitting an intraday high of $3,465.
Over $350 million were liquidated from the cryptocurrency market in the last 24 hours, with 63% accounting for downside bets.
The market was getting overleveraged, and nearly $1 billion in longs risked liquidation if Bitcoin reversed to $93,000.
About 53% of Binance traders expected Bitcoin to correct, as the Long/Short ratio fell below 1.
The “Greed” sentiment increased from 70 to 75 in the last 24 hours, according to the …
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