- BTC and ETH are up 5.3% and 7.08% respectively.
- All the top ten cryptocurrencies are seeing a bullish movement in price action.
- XRP is the most impressive of them all, rising 11% in the past 24 hours.
Cryptocurrencies are seeing a big increase as investors brushed off an expected inflation sell-off, making it bullish. Bitcoin, the most valuable cryptocurrency in the world, has had strong price movement recently, pushing beyond the $20,000 threshold and now valued at $19,706 after a one-day increase of 5.3%.
The price of Ethereum has also been trending upward. The value of the second biggest cryptocurrency has increased by 7.08% in the last 24 hours, reaching $1,331 as of the time of writing.
The prices of all 10 of the most popular cryptocurrencies are now rising, led by Bitcoin and Ether but include the other nine as well. The value of BNB has increased by 4.64% in the last 24 hours and is now worth $274. In the last 24 hours, XRP has increased by 11%, making it possibly the most spectacular price action.
In the last twenty-four hours, the value of Cardano (ADA) has increased by 6.7%, reaching $0.3824 at the moment. Dogecoin (DOGE) has also increased in value, and its current price is $0.06. The share price of Solana (SOL) has gone up by 8.8%.
This year, the Federal Reserve has raised interest rates rapidly in response to soaring inflation, reducing demand for risky assets and causing a decline in the value of equities and cryptocurrencies.
According to the most recent data from the Consumer Price Index (CPI), prices for the variety of items that are tracked by the index have climbed by 8.2% in comparison to a year earlier.
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