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Bitcoin breaks through the $30,000 mark

Bitcoin breached the $30,000 threshold last night and climbed about 7% in the last 24 hours.

By Finst News
• 2 min read
Bitcoin breaks through the $30,000 mark

Bitcoin breached the $30,000 threshold last night and climbed about 7% in the last 24 hours. The last time Bitcoin breached the $30,000 threshold was last June. It looks like, with this yearly high, the rally is continuing.

The altcoin market, led by Ethereum, is following Bitcoin’s bull rally and growing in tandem. Right now BTC stands at $30,127 (€ 27.554) and ETH at $1,920 (€ 1.761). Meanwhile, the total market cap of all cryptocurrencies is $1.24 trillion.

One possible reason for the sudden surge: investors are waiting with bated breath for the US inflation data, which will be released tomorrow, April 12. If inflation continues to fall as projected, stocks and crypto markets, including Bitcoin, would view this development positively. The market is, so to speak, already pre-pricing it.

Additionally, the U.S. Federal Reserve will publish the minutes of its latest rate decision tomorrow evening. Investors are hoping for more clarity on how the Fed views the current inflation problem.

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