After a few days of underperformance, Bitcoin (BTC) and other leading altcoins, such as Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), and Ripple (XRP), have experienced significant gains. BTC briefly fell below $91,000 on November 26, but the bulls intervened, pushing BTC to $97,300 within the past 24 hours.
Despite falling again to $95,300, this represents a 2% increase on a daily basis and a 35% rise on a monthly basis. The resurgence of BTC can be attributed to increased US consumer spending and inflation rates above the Federal Reserve’s target of 2%. The price of the leading digital asset may be affected by the central bank’s reaction to these developments.
Meanwhile, BTC’s market cap has risen to nearly $1.9 trillion, with a dominance over alternative coins at around 57%. ETH, in particular, has hit a six-month high of almost $3,700 due to increased spot Ether ETF inflows in the US. Other altcoins, including Binance Coin (BNB), Cardano (ADA), Ripple (XRP), Shiba Inu (SHIB), and Dogecoin (DOGE), have also seen gains.
However, Stellar (XLM), a frontrunner in recent days, is experiencing a minor decline. The total market capitalization of the cryptocurrency sector currently stands at $3.46 trillion, reflecting a 1.5% increase from November 27.
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