Bitcoin, Ethereum, and XRP have demonstrated robust bullish momentum following the latest US Consumer Price Index report indicating easing inflation pressures. This development has ignited widespread optimism across cryptocurrency markets.
Bitcoin retested the $110,000 level while maintaining a dominant 62.91% market share. With a market capitalization of approximately $2.16 trillion, Bitcoin’s upward trajectory is supported by strong technical indicators.
Ethereum surpassed the $2,800 threshold, achieving a $341.47 billion market capitalization. The asset’s Relative Strength Index confirms sustained upward momentum. Meanwhile, XRP traded between $2.28 and $2.34 during intraday sessions, with technical analysis revealing a bullish Simple Moving Average crossover and significant buying pressure.
The cooling inflation data has heightened expectations for Federal Reserve interest rate cuts, a historical catalyst for cryptocurrency valuation increases. This macroeconomic shift is driving positive sentiment across digital asset markets.
Several altcoins recorded substantial gains exceeding 10%, including KAIA, JTO, SPX, and VIRTUAL. These performances underscore the broad-based bullish sentiment permeating the cryptocurrency sector.