Bitcoins price reacted in a volatile manner to the CPI announcement yesterday as it went beyond $84,000, only to drop beneath $81,000 minutes later. Now, though, the asset stands above $83,000.

Many altcoins have produced even more impressive gains over the past 24 hours, while the market cap has recovered some ground to $2.8 trillion.

BTC at $83K

It was less than a week ago, last Friday when BTCs price soared past $90,000 and tapped $91,000. However, it was quickly rejected there and tumbled back down to $86,000 ,where it sat for most of the weekend.

The landscape worsened once again at the beginning of the current business week, with a price dump to $80,000 on Monday. After a $4,000 bounce-off, the bears took control once again and pushed BTC south to its lowest level in four months, under $77,000.

The cryptocurrency finally reacted positively after this substantial crash and jumped above $80,000 on the next day. Once the US CPI data came out on Wednesday and it was better than anticipated, bitcoin soared past $84,000. However, that was short-lived, and the asset dropped by three grand almost immediately.

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Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! Nevertheless, the bulls intercepted the move and drove BTC to over $83,000, where it currently sits. Its market cap is at $1.650 trillion and its dominance over the alts has risen to 59% on CG.

PEPE on the Rise

Pepe, alongside most other meme coins, was hit very hard during the market-wide crash in the past month or so. Its price tumbled by over 50% within weeks. The past 24 hours have brought some hope to investors as the asset jumped by 16%, and it now stands above $0.0000073.

Other impressive gainers from the larger-cap alts include BNB, XLM, and AVAX. Avalanches native token has soared by double digits to trade above $19.

ETH, XRP, SOL, DOGE, LINK, TRX, LTC, and SUI are also in the green but in a more modest manner.

The total crypto market cap has recovered about $60 billion since yesterdays low and is up to $2.8 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

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