The cryptocurrency market is seeing green as Bitcoin and other major cryptocurrencies experience significant gains. Bitcoin has crossed the $61,000 mark, driven by optimism ahead of the U.S. Consumer Price Index （CPI） release. Altcoins like THORChain （RUNE） are also benefiting from the market’s bullish sentiment.
Points
- Bitcoin surpasses $61,000 amid bullish market sentiment.
- The total crypto market cap hovers around $2.09 trillion, nearing key resistance.
- THORChain （RUNE） sees an 11% price increase in the last 24 hours.
- The market anticipates softer U.S. inflation data, contributing to the positive outlook.
The cryptocurrency market is witnessing a robust rally, with Bitcoin leading the charge as it crosses the $61,000 mark. This upward momentum comes as investors gear up for the U.S. Consumer Price Index （CPI） release, which is expected to show a slight decrease in inflation from June’s 3.0% to a forecasted 2.9% for July. The anticipation of softer inflation data is fueling optimism, helping Bitcoin and other cryptocurrencies recover from recent lows.
Bitcoin’s surge above $61,000 is a significant development, marking a potential shift in market sentiment after a period of volatility. To sustain this momentum, Bitcoin must overcome the next major resistance at $63,000, which, if flipped into support, could pave the way for a move towards $65,000.
The total crypto market capitalization （TOTAL） is also showing strength, hovering just below the $2.11 trillion resistance level. Currently valued at $2.09 trillion, the market cap reflects the growing confidence among investors, who are hopeful that the CPI data will further support the ongoing rally. A successful breach of this resistance could help the market recover more losses from the previous downturn.
THORChain （RUNE） is one of the standout performers in this bullish environment, with its price rising by 11% in the past 24 hours to reach $3.67. RUNE is currently eyeing the $3.92 resistance level, which, if breached, could allow the altcoin to extend its rally further. However, failure to break through this barrier may lead to a period of consolidation within the $3.92 to $4.82 range, potentially slowing down the bullish momentum.
As the market remains focused on the upcoming CPI report, any unexpected data could trigger mixed reactions, impacting the strength of the current uptrend. For now, the overall sentiment is positive, with both Bitcoin and altcoins like RUNE poised for further gains, provided the economic indicators align with investor expectations.
解説
- Bitcoin’s Momentum: Bitcoin’s rise above $61,000 is a critical development, signaling potential for further gains if key resistance levels are overcome. The $63,000 resistance is particularly important, as flipping this into support could set the stage for a move towards $65,000.
- Market Sentiment and CPI Data: The broader crypto market is riding on the optimism ahead of the U.S. CPI release. A softer inflation figure could reinforce the bullish sentiment, helping the market to recover from previous losses and potentially break through significant resistance levels.
- THORChain’s Performance: THORChain （RUNE） is benefiting from the positive market environment, with its recent 11% gain highlighting the altcoin’s potential. However, the need to break through the $3.92 resistance is crucial for sustaining this rally, with failure possibly leading to consolidation.