Following US labor data released last week that saw Bitcoin correct to 10%, the BTC surged in response to December’s CPI report . The cryptocurrency went up 5.1% in 24 hours as rate cut expectations edging up put a confidence on the market.
Altcoin Performance
Other large-cap altcoins rose, with XRP breaking $3.40 for the first ever. Among the top gainers, Ethereum was up by 4.4% to $3.506.11, Solana by 2.2% and BNB by 1.6%.
Memecoin Dominance
There is a vigorous increase with the memecoin sector outperforming the overall market by spiking by 10%. Top gainer were Popcat, newcavemen coin BONK, and avastars token PEPE respectively by 19%, 13%, and 12% respectively while the popular memecoins DOGE and SHIB was up by more than 8%.
Bitcoin’s Recovery Path
The crypto market has regained some of the ground lost in previous days, and all the sectors have signified increased buying interest, although memecoins are the most prominent. This in turn points to upbeat market sentiments reflected in sharp performance in tokens tied to DEXs, Artificial Intelligence and DePIN; while traditional sectors remain firmly in the green.
