Bitcoin (BTC), which was previously valued at $105,000, has regained that price after a 5.1% increase in the last 24 hours.
By the time we went to press, the headline crypto had a value of $105,505, while the sector memecoin saw a growth rate of 10%.
BTC started a steep correction last week following the stronger-than-expected labor market data in the US. Between Jan. 7 and 13, the price of BTC dropped 10% from the high area of $101,000 down to the low range $90,000.
The US consumer price index for December fell within expectations of a 0.4% rise in a single month. It increased expectations that interest rates would be cut in the US during this year. This led to an increase in appetite for risk, and a 9.0% rise in BTC.
Altcoins also followed the trend, as XRP registered a new high, slightly surpassing its prior peak of $3.40, on January 16. Ethereum (ETH), which is currently priced at $3.506,11, has seen a daily gain of 4.4%. Solana, or SOL, now sits at $118.24, after a growth of 2.2%. BNB, meanwhile, increased by 1.6%, to $726.72.
Memecoins surge
In the current recovery environment, memecoins took center stage. Dogecoin, Shiba Inu and other top-20 cryptos, ranked by their market caps, saw the biggest daily gains. They rose 8.5%, 8.9% and respectively.
The market performance average for the day was 5.7%. Popcat (POPCAT), according to Artemis data, led the 200 biggest memecoins in terms of market capital, with gains of nearly 19% over the last 24 hours.
Bonk (BONK), based in Solana, and Dogwifhat(WIF) both registered gains of 13.5% and 5.5% respectively. Pepe (PEPE), meanwhile, jumped by 12% on a daily basis.
On average, tokens associated with decentralized derivatives exchanges grew by 8.1% per day.
Popular narratives like artificial intelligence (AI) and Decentralized Infrastructure Network Tokens (DePINs) also performed better than the average market, with gains of 6.4% and 6,8%, respectively.
The price of tokens that relate to centralised exchanges (CE) and protocols for real-world assets, or RWAs, is below average. It has increased by 5.6% and 3.8% respectively.
Bitcoin Market Data
Press release The time is 9:15 pm on January 17, 2025Bitcoin has the largest market capitalization and is currently trading at a price of You can also check out our Facebook page. 4.47% Over the last 24 hours. Bitcoin’s market capitalization is 2.07 trillion With a daily trading volume of $71,19 billion. Learn more about Bitcoin ›
Bitcoin
The time is 9:15 pm on January 17, 2025
$104,698.24
4.47% Crypto Market Analysis
Press release The time is 9:15 pm on January 17, 2025The total market value of crypto is at 3.67 trillion dollars A 24-hour volume is $ 169.22 billion. Bitcoin is the dominant currency at this time. 56.50%. Learn more about the crypto market ›
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