Bitcoin (BTC) Surpasses the $97K Mark, Reigniting Optimism Among Traders

The cryptocurrency market experienced a broad recovery today, with Bitcoin (BTC) surpassing the $97K mark after dipping to a weekly low of $89K.

The cryptocurrency market experienced a broad recovery on Wednesday, with Bitcoin (BTC) price rising above the $97K mark after dipping to a weekly low of $89K. This rebound has reignited optimism among traders, who are now closely watching the release of the U.S. Consumer Price Index (CPI) inflation data, a key event expected to influence market direction in the coming days.

The global cryptocurrency market cap rose to $3.37 trillion, marking a 2.62% increase over the last 24 hours. The Fear and Greed Index remained neutral at 51, indicating cautious optimism as investors await clarity on macroeconomic conditions.

The total cryptocurrency market volume over the last 24 hours has reached $127.53 billion, reflecting a 26.10% decline. Stablecoins’ trading volume stood at $116.09 billion, which accounts for 91.03% of the market.

Bitcoin (BTC) price today

Bitcoin (BTC) regained momentum, trading at $97,026, up 2.25% in the last 24 hours. The cryptocurrency recorded a 24-hour range between $94,715 and $97,650. Trading volumes for the coin were down 23% at $55 billion.

BTC exchange-traded funds (ETFs) saw inflows of $9.7 million, led by WisdomTree’s $10 million purchase.

Ethereum (ETH) price today

Ethereum (ETH) followed suit, trading at $3,228, a 2.20% increase. ETH’s 24-hour range was between $3,156 and $3,254. Trading volume for the coin was down 40% at $23 billion.

ETF inflows of $1.15 million, entirely driven by Bitwise Investments.

XRP and SOL price today

Ripple’s XRP emerged as the top-performing cryptocurrency among the top 10, surging 12.61% to trade at $2.84. It reached a 24-hour high of $2.87, and a low of $2.52. Ripple’s CEO, Brad Garlinghouse, criticized the SEC’s regulation-by-enforcement approach ahead of the agency’s appeal hearing, which is anticipated to shape XRP’s future trajectory.

Solana (SOL) also performed well, gaining 2.5% to trade at $189.48 with a daily range of $185.4 to $189.94.

Top crypto gainers and losers

Among the top gainers over the past 24 hours, XDC Network (XDC) registered the biggest gains, going up over 22% to trade at 0.1202.

DeXe (DEXE) was the second biggest gainer, jumping over 15% to $16.09. The trading volume for the coin rocketed over 100% to $32.14 million.

On the flipside, Fartcoin (FARTCOIN) was the biggest loser, sinking around 7% to $0.9955. Movement (MOVE) and Ondo (ONDO) also saw declines of over 2%.

Broader crypto price action

Tether (USDT) is currently trading at $0.9996, with a slight 0.01% increase in the last 24 hours. Stellar (XLM) has seen a notable 11.31% surge in the last 24 hours, currently trading at $0.4649. Sui (SUI) is currently valued at $4.53, having dipped slightly by 1.41% in the last day.

Shiba Inu (SHIB) is trading at $0.00002156, showing a modest 1.51% increase over the past 24 hours. Stacks (STX) is currently priced at $1.50, with a decent 2.55% gain in the last 24 hours. Theta Network (THETA) has surged 6.57% in the past day, currently trading at $2.19.

The Graph (GRT) is currently trading at $0.202, having seen a 3.32% increase in the last 24 hours. Tezos (XTZ) is currently priced at $1.28, with a 3.51% gain in the last 24 hours. THORChain (RUNE) is currently trading at $3.18, having declined 0.64% in the