Bitcoin Price Climbs to 2-Week High at $114K Ahead of US CPI Data: Market Watch

Bitcoin’s price jumped by a few grand yesterday and has maintained around $114,000 ahead of the highly anticipated US CPI data, which will be announced later today.

Most larger-cap altcoins are in the green as well, with DOGE and XLM surging by up to 3%. AVAX has risen by over 6%.

BTC Rises Before US CPI Data

The primary cryptocurrency tried to take down the crucial $113,000 support on a couple of occasions in the past week, but each attempt was met with an immediate rejection. The subsequent decline drove it south by a few grand, as it happened on September 6 and September 10.

The bulls initiated another leg up in the past 24 hours that also saw BTC challenge that level. This time, though, the asset was a lot more successful as it finally breached that level. Moreover, it kept climbing and tapped a 17-day peak of $114,500 earlier this morning.

Although it has retraced slightly since then, it still trades around $114,000. More volatility is expected later today when the US CPI numbers are set to be announced. The past few such occasions led to immediate price declines before bitcoin managed to recover the lost ground.

For now, though, BTC’s market cap has risen to $2.270 trillion, while its dominance over the alts has calmed at 56% on CG.

MNT New ATH

Mantle’s native token is today’s top performer, having surged by double-digits to mark a new all-time high at $1.65. AVAX is next in line from the larger caps, as a 7% increase has pushed the asset to almost $30.

DOGE, XLM, LTC, and TAO are also well in the green. Ethereum has risen past $4,400 after a 2.3% jump over the past 24 hours. In contrast, WLD has dropped by almost 8% after the recent rally that drove it north to well over $2.

The total crypto market cap has reclaimed the $4 trillion mark and has grown to $4.060 trillion on CG.