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Bitcoin, Ethereum, And Dogecoin Rebound Sharply On Lighter Inflation Data: Top Trader Says Despite Expectations For Bull Market To Be Over, It’s An Ideal Climate For Altcoins.

Posted On January 15, 2025

Leading cryptocurrencies charged higher Tuesday amid softer-than-expected wholesale inflation data.

Cryptocurrency Gains +/- Price (Recorded at 7:30 p.m. ET)
Bitcoin (CRYPTO: BTC) +2.53% $97,071.13
Ethereum (CRYPTO: ETH)
               		 +2.83% $3,219.18
Dogecoin (CRYPTO: DOGE)           +5.58% $0.3576

What Happened: Bitcoin soared to a weekly high of $97,350 early this morning, holding on to its gains for the remainder of the day. 

The dramatic turnaround comes just a day after the leading cryptocurrency slipped below $90,000 for the first time since November 2024.

Ethereum, the second-largest cryptocurrency, reclaimed the $3,200 zone a day after dipping below $3,000. 

About $185 million were liquidated from the cryptocurrency market in the last 24 hours, with bearish bets accounting for $122 million. 

The percentage of Binance traders going long on Bitcoin dipped from 62% to 55% in the last 24 hours, suggesting that the market was bracing for another correction.

The “Greed” sentiment strengthened from 63 to 70 in the last 24 hours, according to the Crypto Fear & Greed Index

Top …

Full story available on Benzinga.com

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