Major cryptocurrencies rose Tuesday amid weaker-than-expected wholesale inflation.
| Cryptocurrency | Earnings +/- | Price (recorded at 7:30 p.m. ET) |
| Bitcoin BTC/USD | +2.53% | $97,071.13 |
| Ethereum ETH/USD |
+2.83% | $3,219.18 |
| Dogecoin DOGE/USD | +5.58% | $0.3576 |
What happened: Bitcoin surged to a weekly high of $97,350 early this morning, holding its gains for the remainder of the day.
This dramatic turnaround comes just a day after the leading cryptocurrency fell below $90,000 for the first time since November 2024.
Ethereumthe second largest cryptocurrency, reclaimed the $3,200 zone daily after falling below $3,000.
Around $185 million was liquidated in the cryptocurrency market over the past 24 hours, with bearish bets accounting for $122 million.
The percentage of Binance traders taking long Bitcoin positions fell from 62% to 55% in the last 24 hours, suggesting the market was preparing for another correction.
“Greed” sentiment strengthened from 63 to 70 in the last 24 hours, according to the Crypto Fear & Greed Index
Top winners (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 7:30 p.m. ET) |
| ai16z (AI16Z) | +21.07% | $1.36 |
| DeXe (DEXE) | +20.48% | $16.41 |
| Kaspa (KAS) | +16.19% | $0.1375 |
The global cryptocurrency market capitalization stood at $3.36 trillion, up 2.77% in the last 24 hours.
Major stock indexes moved north on Tuesday. THE Dow Jones Industrial Average rose 221.16 points, or 0.52%, to 42,518.28. THE S&P500 gained 0.11% to close at 5,842.91. The technology-focused Nasdaq Composite was the outlier, finishing down 0.23% at 19,044.39.
The rise followed cooler than expected Producer price index data for December. Attention turns to the essential Consumer Price Index report, scheduled for release Wednesday, as investors look for signals on whether the Federal Reserve might ease interest rate policy.
See more: Best Cryptocurrency Scanners
Analyst Ratings: Widely Followed Cryptocurrency Analyst Rekt Capital highlighted the importance of Bitcoin’s daily close above $91,000.
“The $91,000-$101,000 range and the initial RSI low were preserved,” the analyst remarked. “Exaggerated bullish divergence remains intact.”
Another popular cryptocurrency trader, Michael van de Poppe, expressed optimism that sentiment towards altcoins will change starting this week.
“Sentiment, in a negative way, has exploded, people are expecting the end of the bull market. The ideal climate for altcoins to perform well,” he added.
Photo by CMP_NZ on Shutterstock
Read next:
News and market data powered by Benzinga APIs
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.