Crypto Market Update: Bitcoin Surges to $83k Amid Inflation Drop
On March 13, 2025, Bitcoin prices recovered to $83,000 influenced by decreasing U.S. inflation rates, while Pi Coin and Story IP emerged as leading gainers. XRP’s ETF filing sparked interest. The overall crypto market cap increased to $2.7 trillion despite a drop in trading volume. Notable market performances included mixed outcomes for major altcoins such as Ethereum and significant daily gains and losses reported among various cryptocurrencies.
On March 13, 2025, the cryptocurrency market experienced uplifting changes, primarily due to the decline in the U.S. inflation rate, with the Consumer Price Index (CPI) decreasing from 0.3% in January to 0.2% in February. Yearly inflation fell from 3.0% to 2.8%, surpassing forecasts that anticipated a two-month figure of 2.9%. Additionally, core inflation has reached a multi-year low of 3.1%, which excludes food and energy costs.
This improvement in inflation rates contributed to a 2.14% rise in the global cryptocurrency market capitalization, resulting in a total of $2.7 trillion. However, the intraday trading volume saw a notable decrease of approximately 15%, settling at $100.52 billion. Concurrently, the Fear & Greed Index dropped to 21, indicating a prevalent sense of fear in the market despite some encouraging economic signals.
Bitcoin’s price managed to reach $83,000, reflecting a gain of 1.68% within the last 24 hours. With a current market capitalization of $1.65 trillion, Bitcoin maintains a dominant market share of 61%. However, business volumes have declined by over 21%. A significant factor for Bitcoin’s appeal is the consideration of the U.S. government to acquire 1 million Bitcoins as part of a comprehensive economic strategy.
In the altcoin sector, Ethereum registered a minor decline of 0.39% over the past day. Conversely, XRP experienced a surge of 2.90%, buoyed by interest surrounding Franklin Templeton’s ETF filing. Solana’s price increased by 0.79%, showcasing a cautious yet positive sentiment towards prominent altcoins in the market.
Among the day’s top gainers, Pi Coin rose by an impressive 15.17%, closely followed by Story IP with an 11.89% increase, and TIA, which gained 13.40%. In contrast, HYPE led the losers’ bracket, falling by 5.72%, followed by TAO with a decline of 3.13% and FLR dropping by 3.02%.
For further insights into the cryptocurrency market, individuals are encouraged to subscribe for daily updates. The current price for one Bitcoin stands at approximately $83,195.48, while Pi Coin, Celestia, and Story IP are noted as the top gainers today. Ethereum’s performance reflects a small dip, indicating its current market volatility.
In summary, the cryptocurrency market has responded positively to the latest inflation data, with Bitcoin leading the way at $83,000. While altcoins demonstrated mixed results, the overall market witnessed a slight increase in capitalization. Top gainers included Pi Coin, Story IP, and TIA, while HYPE and others faced declines. Investors continue to observe market trends, especially regarding Bitcoin’s potential government acquisition.
Original Source: coinpedia.org
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