Major cryptocurrencies traded higher Wednesday night as global market capitalization surged 2.5% to $880 billion at 7:38 p.m. ET.
Price performance of major coins
24 hour top gainers (data via CoinMarketCap)
24 hour rate of change (+/-)
NEAR Protocol (NEAR)
SEE ALSO: Best Cryptocurrencies to Hold Until 2030Why It Matters: As Investors Waited for the U.S. Department of Labor Consumer Price Index (CPI) Figures Due Thursday Morning, Bitcoin Ethereum traded higher in tandem with the stock on Wednesday, at 6.5% in December, lower than the 7.1% reported in November. On Wednesday, the S&P 500 and Nasdaq closed 1.3% and 1.8% higher respectively. At the time of writing, US stock futures were seen trading flat. “With no major positioning ahead of this CPI report, it may now be the calm before an inflationary storm. We are confident,” said Edward Moya, senior market analyst at OANDA. “It may not be smooth sailing as the December inflation report sees prices drop across the board, as core prices may rise a bit a month ago,” Moya said. . “If risk appetite remains unchanged after the inflation report, Bitcoin could rally again at $18,500 levels. Michael van de Poppe says bitcoin is holding $17,300 level: “Maybe it will continue to rise, it’s up to the CPI. Probably given the current outlook.” and a temporary correction near the CPI before continuing,” said the crypto trader. He said that tomorrow Bitcoin could reach the $18,500 mark if the CPI is beaten. He said that “probably” in the next six months Apexcoin could head for the $30,000 to $40,000 level, but most people “are not ready for it.” Tether (USDT) said it “continues to see growth from sharks and whales that are piling up for their next market.” [bull run]According to the Market Intelligence Platform, there are currently 21,459 addresses holding more than $100,000 in USDT, just 1% below the all-time high. According to CryptoQuant CEO Ki Young Ju, Grayscale, which is owned by Digital Currency Group (DCG), has moved his 21,000 BTC. The funds were moved with an on-chain realized loss of 60%. “He may have switched to a new cold wallet for security reasons. More than 1,000 BTC of his BTC may have flowed into the Coinbase exchange, presumably due to administrative costs.” Ki said on his Twitter.All Bitcoins Haven’t Moved An Inch In Two Years: Ark Invest Pegs This Level As Strongest Support