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After sitting quietly for days, bitcoin went on a rollercoaster yesterday after the US announced the CPI data for April.
The altcoins felt similar volatility, but most are trading slightly in the red now on a daily scale.
<h2 id="btc-8217-s-pump-and-dump">BTC&#8217;s Pump and Dump</h2>
After failing to overcome $30,000 on Saturday morning and being pushed back down by a grand, BTC had a relatively quiet weekend without any major moves in either direction. The landscape changed on Monday and Tuesday when the asset fell to $28,000.
It remained there for a day or so, and more volatility was expected yesterday as the US was <a href="https://cryptopotato.com/us-cpi-announcement-today-bitcoin-flat-in-anticipation-market-watch/" data-wpel-link="internal">scheduled to announce</a> the CPI numbers for April. The actual figures were slightly lower than expected, which <a href="https://cryptopotato.com/bitcoin-soars-above-28k-as-us-april-inflation-lower-than-expected/" data-wpel-link="internal">propelled</a> an immediate price increase for bitcoin that drove it from $27,500 to over $28,300.
However, the cryptocurrency plummeted by over $1,500 in minutes shortly after, dumping to a 6-week low of under $27,000. The volatile rollercoaster continued in the following hours but in the opposite direction.
As of now, BTC stands where it sat yesterday &#8211; at around $27,500. Its market cap is still just over $530 billion, while its market cap is inches away from 47%.
<figure id="attachment_250154" aria-describedby="caption-attachment-250154" style="width: 1834px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-10.png" data-wpel-link="internal"><img class="size-full wp-image-250154" src="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-10.png" alt="BTCUSD. Source: TradingView" width="1834" height="818" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-10.png 1834w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-10-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-10-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-10-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-10-1536x685.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-10-50x22.png 50w" sizes="(max-width: 1834px) 100vw, 1834px" /></a><figcaption id="caption-attachment-250154" class="wp-caption-text">BTCUSD. Source: TradingView</figcaption></figure>
<h2 id="atom-defies-market-sentiment">ATOM Defies Market Sentiment</h2>
The altcoins experienced similar price fluctuations yesterday, but the overall situation today is that they are with minor losses.
Ethereum also headed toward $1,900 during the pump phase of the CPI announcement but plummeted to under $1,800 hours later. It trades slightly above the latter as of now.
Binance Coin, Ripple, Dogecoin, Polygon, Tron, and Shiba Inu are also slightly in the red on a daily scale. Cardano, Solana, Polkadot, and Litecoin, on the other hand, are with insignificant gains.
ATOM is the only notable gainer from the larger-cap alts. It has jumped by roughly 6% in the past 24 hours and trades above $10.
The total market cap is still at $1.130 trillion after losing $70 billion in the past week or so.
<figure id="attachment_250155" aria-describedby="caption-attachment-250155" style="width: 1879px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-7.jpg" data-wpel-link="internal"><img class="size-full wp-image-250155" src="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-7.jpg" alt="Cryptocurrency Market Overview. Source: Quantify Crypto" width="1879" height="792" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-7.jpg 1879w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-7-300x126.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-7-1024x432.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-7-768x324.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-7-1536x647.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-7-50x21.jpg 50w" sizes="(max-width: 1879px) 100vw, 1879px" /></a><figcaption id="caption-attachment-250155" class="wp-caption-text">Cryptocurrency Market Overview. Source: Quantify Crypto</figcaption></figure>
The post <a href="https://cryptopotato.com/bitcoin-pumped-and-dumped-1-5k-following-us-cpi-numbers-market-watch/" rel="nofollow">Bitcoin Pumped and Dumped $1.5K Following US CPI Numbers: Market Watch</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Bitcoin Pumped and Dumped $1.5K Following US CPI Numbers: Market Watch

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