Bitcoin's Volatile Friday
Bitcoin endured a tumultuous trading session on Friday as markets reacted to the release of August CPI data. The cryptocurrency initially plunged to a multi-week low of $76,000 following the data release, then rebounded sharply by nearly $4,000 to $79,800 before facing renewed selling pressure.
BTC ultimately settled around $77,000, where it remained as of Friday. The week had seen considerable downward pressure, with the asset dipping to $77,600 earlier and facing rejection attempts at $79,600 on September 9 and 10. Bitcoin's market cap stands at $1.550 trillion, with its dominance over alternative cryptocurrencies declining to 58.7%.
Ethereum Reaches Eight-Month Peak
Ethereum emerged as a top performer during Friday's post-CPI rally, climbing from $2,440 to an eight-month high of $2,670 before retreating to just above $2,500. Despite the pullback, Ethereum posted a 3% daily gain.
Altcoin Performance
Most major alternative cryptocurrencies advanced on a 24-hour basis. BNB gained 3%, settling above $730, while SOL defended the $100 support level. XRP climbed 2% but remained below $1.40. Privacy coins showed notable strength, with ZEC and XMR each gaining over 4%, rising 4.8% and 5.3% respectively.
Additional gainers included UNI, SKY, XLM, BCH, and LTC. The total cryptocurrency market cap increased 0.6% to $2.640 trillion.
