In the past 24 hours, the cryptocurrency market has seen a strong rebound. Bitcoin has once again crossed the $100,000 mark, with the total market cap soaring by 5.35% to an astonishing $3.64 trillion. Meanwhile, market trading volume surged by 35% to $225 billion, with December momentum gaining speed. Major altcoins are not to be outdone, with Ethereum, Solana, XRP, and Dogecoin all seeing increases ranging from 5% to 9%.
CPI data boosts BTC to break the $100,000 mark
Bitcoin's current price has risen to $100,100, up 3%. This trend is directly related to the US November Consumer Price Index (CPI) data — CPI increased by 2.7%, in line with market expectations. Data shows that inflationary pressures are easing, triggering widespread speculation about the Federal Reserve's potential interest rate cuts. Potential rate cuts are expected to enhance the attractiveness of crypto assets, further driving up Bitcoin demand.
Bitcoin ETF continues to attract funds, institutional investments surge
Institutional investors are highly interested in Bitcoin. On December 11, the US spot Bitcoin ETF recorded a net inflow of funds for 10 consecutive days, with the cumulative inflow exceeding $34 billion. According to on-chain data, in the past 10 days, the Bitcoin ETF attracted $538 million, with BlackRock leading with an inflow of $303 million, followed by Fidelity, Galaxy, and Grayscale. This indicates that institutional demand for Bitcoin allocation is rapidly heating up.
Market volatility led to nearly $273 million in liquidations
Despite the market's strong rebound, not everyone is profiting from it. In the past 24 hours, the market liquidation amount reached $273 million, with short positions accounting for over 70%, totaling $193 million. The sudden surge caught nearly 100,000 traders off guard, once again reminding everyone of the high risks in the crypto market.
Bitcoin hits historic highs
Bitcoin's current quote is $100,598, just a step away from the historic high of $104,087. If it can maintain the $100,000 support, the likelihood of refreshing the historic high is very high; however, if it breaks below this key level, it may pull back to around $95,668, triggering more selling pressure.
The market flows like tides, with rises and falls like waves; opportunities are only left to those who act quickly. Follow Mr. Qiu and let him guide you through the storm of the market to navigate the wealth boat!
