The global cryptocurrency market capitalization has reached $2.51 trillion after the release of the U.S. Consumer Price Index (CPI) report.
As per the report of the U.S. Bureau of Labor Statistics (BLS), the US CPI for April rose by 3.4% over the previous year, and CPI hit 3.7% for March this year. After the release of the CPI report, the majority of the top altcoins, including Bitcoin (BTC), saw significant increases.
The global cryptocurrency market cap reached $2.51 trillion, up 5.54% in the last day, according to data from Coingecko. This represents an increase of 113.62% from a year ago.Â
Bitcoin has increased 6.7% in the last 24 hours, and at the time of writing, it crossed the $66,000 level for the first time since April 24.
The CoinMarketCap data show that the market capitalization of bitcoin has crossed the $1.3 trillion threshold for the first time in the last three weeks. Additionally, the daily volume of BTC trading rose by 72% to $43.3 billion.
The Santiment data shows that over the last day, there were 11,397 unique whale transactions, which rose from 8,520, or transactions worth at least $100,000 in Bitcoin, a 33.8% increase over the previous day.
Furthermore, during the previous day, the BTC Relative Strength Index (RSI) increased from 53 to 70. According to the indicator, Bitcoin is currently overpriced.
Also Read: Bitcoin Price Plunge: Analysts Debate Future
