Cryptocurrency

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Bitcoin&#8217;s price went on a small rollercoaster yesterday following the US CPI announcement but ultimately calmed at around $26,000.
The altcoins were more volatile, with BNB jumping by 5% following the rejection of the SEC&#8217;s emergency request to freeze Binance.US&#8217; assets.
<h2 id="btc-goes-up-and-down">BTC Goes Up and Down</h2>
Following the enhanced volatility at the start and the end of last week, bitcoin had predominantly <a href="https://cryptopotato.com/sui-explodes-16-daily-bitcoin-shaky-at-26k-market-watch/" data-wpel-link="internal">calmed</a> at around $26,000 and was expecting the US CPI numbers for May. As the world&#8217;s largest economy actually showed a minor decline in the year-over-year inflation rates, BTC <a href="https://cryptopotato.com/bitcoin-spikes-toward-26-5k-as-us-cpi-clocks-4-for-may/" data-wpel-link="internal">started</a> heading north and tapped $26,400.
However, that was short-lived, as the cryptocurrency lost all of its immediate gains. Furthermore, bitcoin kept dumping and fell to $25,700 less than an hour after the CPI numbers came out.
The bulls stepped up at this point and didn&#8217;t allow any further declines. They pushed BTC up to $26,000, but the asset has failed to decisively overcome that level as of now and trades just shy of it.
Nevertheless, its market capitalization has maintained above $500 billion, and its dominance over the altcoins is still north of 47.5%.
<figure id="attachment_255153" aria-describedby="caption-attachment-255153" style="width: 1834px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-12.png" data-wpel-link="internal"><img class="size-full wp-image-255153" src="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-12.png" alt="BTCUSD. Source: TradingView" width="1834" height="875" srcset="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-12.png 1834w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-12-300x143.png 300w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-12-1024x489.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-12-768x366.png 768w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-12-1536x733.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-12-50x24.png 50w" sizes="(max-width: 1834px) 100vw, 1834px" /></a><figcaption id="caption-attachment-255153" class="wp-caption-text">BTCUSD. Source: TradingView</figcaption></figure>
<h2 id="bnb-up-5-xrp-down-5">BNB Up 5%, XRP Down 5%</h2>
The altcoins declined substantially following the SEC&#8217;s lawsuits against Binance and Coinbase. BNB was, expectedly, among the poorest performers as the asset fell to a <a href="https://cryptopotato.com/binance-coin-bnb-dumps-to-6-month-low-bitcoin-btc-fails-at-26k-market-watch/" data-wpel-link="internal">six-month low</a> of $222 just a few days ago. However, BNB bounced off in the following days and has added another 5% in the past 24 hours. This came after a US judge <a href="https://cryptopotato.com/judge-rejects-secs-request-to-freeze-binance-us-assets-orders-parties-to-compromise/" data-wpel-link="internal">denied</a> the SEC&#8217;s emergency request to freeze all Binance.US assets.
In contrast, XRP has dropped by a similar percentage in the past 24 hours. Nevertheless, it still trades at just over $0.5. Cardano, Litecoin, and Solana are also in the red on a daily scale.
ETH, DOGE, TRX, MATIC, DOT, AVAX, and SHIB have remained relatively still in the past day.
In total, the crypto market cap has lost just over $5 billion in a day and stands at $1.155 trillion on CMC.
<figure id="attachment_255157" aria-describedby="caption-attachment-255157" style="width: 1879px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-8.jpg" data-wpel-link="internal"><img class="size-full wp-image-255157" src="https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-8.jpg" alt="Cryptocurrency Market Overview. Source: Quantify Crypto" width="1879" height="796" srcset="https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-8.jpg 1879w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-8-300x127.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-8-1024x434.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-8-768x325.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-8-1536x651.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-8-50x21.jpg 50w" sizes="(max-width: 1879px) 100vw, 1879px" /></a><figcaption id="caption-attachment-255157" class="wp-caption-text">Cryptocurrency Market Overview. Source: Quantify Crypto</figcaption></figure>
The post <a href="https://cryptopotato.com/bnb-recovers-5-btc-remains-calm-at-26k-after-cpi-announcement-market-watch/" rel="nofollow">BNB Recovers 5%, BTC Remains Calm at $26K After CPI Announcement (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

BNB Recovers 5%, BTC Remains Calm at $26K After CPI Announcement (Market Watch)

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