In a surprising turn of events, the cryptocurrency market experienced significant movements today. Bitcoin (BTC) surged past the $65,000 mark, while Ethereum (ETH) regained the $3,000 level. Additionally, other altcoins, including Solana (SOL), XRP, and Cardano (ADA), also recorded substantial gains. Let’s dive into the details.
Bitcoin Price Rally
Bitcoin’s price rallied after the release of robust U.S. CPI data on Wednesday, May 15. The BTC price surged to $65,000, marking a remarkable milestone. Despite the recent volatility, Bitcoin’s market capitalization stood strong at $1.21 trillion.
Ethereum’s Recovery
Ethereum (ETH) witnessed a recovery, dipping only slightly to $2,905.97 at press time. The market valuation of Ethereum remained impressive at $346.58 billion. Although ETH’s trading volume fell slightly, reaching $12.09 billion, the overall sentiment remained positive.
Solana’s Distanced Price
Solana (SOL) distanced itself from the $150 level amid the market declines. The SOL price settled at $143.90, experiencing a 6.75% hike in trade volume to $2.47 billion in the last 24 hours.
XRP’s Struggle
XRP inched closer to dropping below the $0.50 mark again. The XRP price recorded a drop of 0.89%, reaching $0.502. However, XRP’s trading volume shot up by 25.49% to $1.06 billion.
Cardano’s Decline
Cardano (ADA) experienced a decline, with its crypto price down 1.81% to $0.4289. ADA’s 24-hour trading volume also slumped, settling at $290.99 million.
The crypto market remains dynamic, with various coins showing distinct trends. As investors closely monitor these developments, the overall sentiment remains optimistic.
