The post Why Crypto Market Is Up Today: Key Reason appeared first on Coinpedia Fintech News
The crypto market is on fire! In just 24 hours, the total market cap has skyrocketed by 5.35%, reaching a massive $3.64 trillion, as Bitcoin surges back above the $100K mark. Not only that, but trading volume has also jumped 35%, hitting $225 billion, signaling strong momentum for December.
Altcoins aren’t left behind either, with Ethereum, Solana, XRP, and Dogecoin all experiencing impressive gains of 5% to 9%.
CPI Report Boast BTC To $100K
Bitcoin, the leader of the market, has bounced back above $100,100, reflecting a rise of 3%. A key factor behind Bitcoin’s rise is the release of the U.S. November Consumer Price Index (CPI) data, which showed a 2.7% increase, just as expected.
This data suggests that inflation is under control, which has led to growing speculation that the Federal Reserve may soon cut interest rates. A rate cut would make riskier investments, like cryptoc
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