Bitcoin Surpasses $101,000 Threshold
- Bitcoin briefly exceeded the $101,000 mark after a 3% surge following November’s CPI numbers.
- Investor confidence is high with a 98% probability of a 25 basis point rate cut by the Federal Reserve.
- Bitcoin is currently trading at $100,215, showing resilience above the six-figure level.
- Recent gains come after a 10% correction from its all-time high of $103,918.67.
Market Rally and Altcoin Performance
The wider crypto market also saw an increase alongside Bitcoin as expectations of rate cuts rose.
- Ethereum (ETH) rose by 7.5% to surpass $3,800, while XRP surged by 20% to reach $2.42.
- Altcoins like Solana (SOL), Cardano (ADA), Tron (TRX), and Avalanche (AVAX) saw double-digit price hikes.
- Sui (SUI) re-entered the top 20 largest cryptos after a 20% surge to $4.25.
Crypto Market Performance
According to Artemis data, the average crypto market gains over the past 24 hours stood at 7.8%.
- Centralized exchange tokens saw the best average daily performance, with a 17% increase.
- Bridges tokens like LayerZero (ZRO) and Wormhole (W) were up 10% on average.
- None of the 22 sectors tracked by Artemis performed negatively in the past 24 hours.
Bitcoin Market Data
At the time of writing on December 11, 2024:
- Bitcoin is ranked #1 by market cap, up 5.3% in the past 24 hours.
- Market capitalization is at $1.99 trillion with a trading volume of $86.25 billion.
Crypto Market Summary
As of December 11, 2024:
- Total crypto market value is $3.58 trillion with a 24-hour volume of $238.79 billion.
- Bitcoin dominance stands at 55.49%.
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Posted In: Avalanche, Bitcoin, Cardano, Ethereum, Solana, TRON, XRP, US, Analysis, Crypto, Featured, Macro, Market, Price Watch
