According to CoinMarketCap data, BTC was valued at $21,047 at 7:45 a.m. on Jan. 14. Its market cap was $403 billion. That change represents a 12% increase in 24 hours.
According to CoinMarketCap data
Bitcoin typically leads the crypto market, and its performance today contributed to the crypto market’s overall growth. The top cryptocurrency is up 11% in the last 24 hours, trading at $20,920 at the time of press. The entire crypto market cap was up 11.02% over the past 24 hours, and it has a market cap of $402,92 billion.
In a matter of minutes, BTC sped through the $20,000 mark, a historically and psychologically significant price point. Investors may now be bullish because BTC has passed the psychological barrier represented by the round number of $20,000 in this case.
There are no significant events that could have had an obvious positive effect on investor activity. Rather, changing investor sentiment may be due to a lack of bad news and to the fact that significant crises like FTX’s collapse are fading into the past.
The price of BTC began to climb earlier this week in anticipation of the release of the Federal Reserve’s Consumer Price Index report. On Monday, BTC started the week trading at $17,207 and has continued an upward trajectory ever since. The CPI report met market expectations and showed that inflation in the U.S. economy is indeed slowing.
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