Crypto Price Today: Bitcoin rises to $26,100; BNB, XRP surge up to 4% ahead of US inflation data

economictimes.indiatimes.com:

cryptocurrency markets were majorly trading higher on Tuesday ahead of key US inflation data later on the day and a two-day Fed monetary policy meeting on Wednesday. Bitcoin (BTC) surged 0.91% to $26,100, whereas Ethereum (ETH) was above the $1,750 level. BTC volume stood at approximately $11.59 billion, rising 0.26% in the last 24 hours. “Most cryptocurrencies rose in the past 24 hours ahead of the release of CPI data for May which is scheduled for today,” Edul Patel, Co-founder and CEO at Mudrex, said. «Bitcoin traded at the US$26,000 level over the weekend following the low at US$25,675. BTC sees bulls attempt to break the resistance of US$26,300 level. However, currently the market sentiment remains largely bearish,» Edul added.

Did you Know?

SAP has launched a new enterprise on the Metaverse with the aim of accelerating cloud adoption among Indian firms. The interactive and immersive ‘cloud on wheels’ platform will enable customers to experience the full range of SAP’s offerings and reimagine processes for improved business outcomes.

Other top crypto tokens were also trading higher. BNB and XRP rose up to 4%. Meanwhile, Dogecoin, Solana and Polkadot also traded with gains. The global cryptocurrency market cap was trading higher around $1.06 trillion, rising 0.99% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $505 billion. Bitcoin’s dominance is currently 48%, a decrease of 0.04% over the day, according to CoinMarketCap. «Crypto market is in a decisive phase with Bitcoin just about holding $26,000 while major altcoins are recovering post a selloff last week. US Fed pausing interest rate hikes this week will be a key catalyst to a short-term recovery,»