Bitcoin experienced a volatile ride yesterday after the US CPI data for April was announced, following days of little movement. Altcoins also saw similar fluctuations, with most currently trading slightly lower than the previous day.
Bitcoin’s Price Fluctuations
Bitcoin failed to surpass $30,000 on Saturday and remained steady without any significant changes until Monday and Tuesday, when it fell to $28,000. Expecting volatility after the US CPI announcement, which was slightly lower than expected, bitcoin’s price rose immediately from $27,500 to over $28,300. However, just minutes later, the cryptocurrency experienced a sharp drop of over $1,500, reaching a six-week low of under $27,000. The volatile trend continued for the next few hours before reversing again.
Currently, bitcoin is trading at around $27,500 with a market cap just over $530 billion and an increasing market share of almost 47%.
ATOM’s Price Increase
The altcoins experienced similar price fluctuations yesterday, but most are trading at slight losses. Although Ethereum rose to nearly $1,900 during the bitcoin pump phase before dropping below $1,800, it is currently trading slightly above the latter. Binance Coin, Ripple, Dogecoin, Polygon, Tron, and Shiba Inu are also slightly in the red on a daily scale. On the other hand, Cardano, Solana, Polkadot, and Litecoin have insignificant gains. ATOM is the exception, experiencing a notable gain of approximately 6% in the past 24 hours and trading above $10.
The total market cap is over $1.130 trillion, but has lost approximately $70 billion during the previous week.