The crypto market cap has gone to a multi-month high above $1.150 trillion, as BTC and ETH spiked above $24,500 and $1,900, respectively.
a lower inflation percentage of 8.5%, which was even less than the predicted one of 8.7%. Being a riskier asset, bitcoin reacted with an immediate price surge to $24,000.
More volatility came a bit later, and BTC jumped to just under $25,000, which became its highest price tag in almost two months. As of now, though, the cryptocurrency trades over $1,000 lower, but its market cap is still well above $450 billion.As it typically happens in cases of enhanced volatility, the alternative coins follow suit and even mark even more impressive price fluctuations.
Ethereum, for example, stood around $1,700 but soared by over $200. As a result, it tapped a multi-month high of its own at $1,920 . Despite retracing slightly since then, the second-largest crypto is still over 10% up on the day. Solana is another double-digit gainer, and SOL has touched $45. Impressive price increases also come from Cardano, Polkadot, Avalanche, and MATIC.Most lower- and mid-cap alternative coins have charted notable increases as well. This means that the cumulative market cap of all crypto assets has added over $70 billion in a day and stands above $1.150 trillion.
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