The history of the Bitcoin blockchain originates from the cryptopunks movement, which aimed to create a new, independent financial system that won’t have intrinsic value and wouldn’t be controlled by traditional banking systems or governments. Satoshi Nakamoto summarized the ideas of the cryptopunks and created the Bitcoin blockchain. On January 3, 2009, the first block of the Bitcoin blockchain was generated.
12.09.2024
Over the past few days, the cryptocurrency market has once again attracted investors' attention, especially after Bitcoin's price swiftly rebounded from a brief decline. Such fluctuations amid macroeconomic events always spark active discussions, and the current market conditions are no exception. In a context of global economic instability and the release of key inflation data from the U.S., Bitcoin has once again proven its resilience, quickly recovering from its dip and returning to the $58,000 mark.
Bitcoin's price climbed back to $58,000 after a recent drop triggered by the release of U.S. inflation data. On the evening of September 11, the value of the leading cryptocurrency fell from $57,800 to $55,500, but by morning, Bitcoin had regained its position.
The published inflation statistics in the U.S. met analysts' expectations and were already priced into the market, reducing their impact on cryptocurrency assets. Despite this, Bitcoin’s price continues to rise, and as of this morning (10:40 AM Moscow time), it is once again trading at $58,000, reflecting a daily gain of 2.5% and a weekly increase of 1.7%. According to CoinGecko, Bitcoin's market dominance stands at 52.95%.
Not only Bitcoin is showing positive momentum. Ethereum (ETH) has risen 1.1% over the past day, reaching $2,360. Binance Coin (BNB) increased by 6%, climbing to $541. Toncoin (TON) also saw a 1.7% rise, reaching $5.39. Other major cryptocurrencies in the top 10 by market capitalization posted gains ranging from 0.7% to 2%.
Among the top 100 digital assets, Sui (SUI) was the growth leader, with a 15.4% increase. On the other hand, Notcoin (NOT) suffered the biggest loss among popular assets, falling by 2.5%.
Over the past 24 hours, the total cryptocurrency market capitalization increased by 1.3%, reaching $2.125 trillion. The daily trading volume exceeded $85.7 billion, confirming high market activity.
The Fear and Greed Index, which reflects the emotional sentiment of investors in the cryptocurrency market, dropped from 37 to 31 points, indicating the continued prevalence of 'fear' among market participants. This indicator plays an important role, helping traders make more balanced decisions, avoiding extremes like buying in a wave of optimism or selling in panic.
The current situation in the cryptocurrency market demonstrates its high volatility and sensitivity to economic news. Despite recent fluctuations, Bitcoin and other major assets continue to show growth, confirming investors' interest. The recovery of BTC to $58,000 following the release of U.S. inflation data signals the cryptocurrency’s stability and its ability to adapt to macroeconomic challenges. However, the prevailing fear among market participants underscores the importance of a cautious approach to investing, especially during times of uncertainty.
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