Bitcoin swung sharply around the release of August's US CPI report before settling near $77,000. Ethereum spiked to an eight-month high before pulling back, while most large-cap altcoins stayed in the green over the past 24 hours.
Bitcoin whipsawed on Friday around the release of the August CPI data, then calmed at roughly $77,000. Ethereum rode the same swing to a new eight-month high before retreating, and most larger-cap altcoins remain in the green on a 24-hour scale.
Bitcoin's wild 24-hour window
Bitcoin was rejected above $80,000 at the start of the week and never returned there. Instead, selling pressure built as global economic uncertainty grew, pushing the coin down to $77,600 within days. Its rebound attempts were halted at $79,600 twice on September 9 and 10, then bears drove another leg down to under $77,000 after Thursday's PPI data.
The coin held sideways around $77,000 heading into Friday's CPI release. Once the data matched expectations, the price first plunged to a multi-week low of $76,000, then bounced nearly $4,000 to $79,800 before another rejection sent it back to just over $77,000, where it currently stands. Its market cap stands at $1.550 trillion, with dominance over altcoins down to 58.7%.
Ethereum saw an eight-month peak
Ethereum was the top gainer during the post-CPI rally, skyrocketing from $2,440 to a new eight-month high of $2,670 before being driven back to just over $2,500. It remains 3% up on the day, similar to BNB, which sits above $730.
XRP stays well below $1.40 even after a 2% daily jump, while Solana has defended the $100 support level.
Privacy coins and the broader market
ZEC and XMR extended their rise, up 4.8% and 5.3% respectively, with UNI and SKY also among the notable large-cap gainers, followed by XLM, BCH, and LTC. The total crypto market cap has risen 0.6% since yesterday, reaching $2.640 trillion.
Source: CryptoPotato
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