The crypto market snapped out of a prolonged slumber with most altcoins having clocked profits on Thursday, September 11. The price of Bitcoin rose by 2.25 percent in the last 24 hours. At the time of writing the asset was retailing at $114,430 on international exchanges, data by CoinMarketCap showed.
Market analysts have attributed this minor rally to the cooler-than-expected PPI data at 2.6 percent that may have boosted hopes for a rate cut.
“With the odds of a rate cut next week increasing to 82 percent, the broader crypto market is expected to maintain the bullish sentiment. The move was further supported by consistent institutional inflows, with Bitcoin spot ETFs recording almost $1 billion in net inflows so far this week. A decisive break above $115,000 could drive BTC towards $118,300, while immediate support has moved higher to $111,600,” Edul Patel, the CEO of Mudrex told CoinHeadlines.
Ether reflected a price trajectory similar to Bitcoin’s on Thursday. The asset clocked gains of 2.80 percent over the last day, taking its price to $4,440, CoinMarketCap showed.
“This kind of momentum typically sparks a ripple effect across the broader crypto market, where we see alternative tokens responding with strong price action and heightened investor interest,” Avinash Shekhar, the CEO of Pi42 said commenting on the market sentiment.
A majority of crypto assets registered minor price hikes in the last 24 hours. Ripple, Solana, Cardano, Chainlink, and Shiba Inu saw gains of over one percent. Dogecoin, Stellar, Avalanche, Litecoin, and Toncoin saw profits between three percent to eight percent. The Mantle token (MNT) outshone most others to rise by over 20 percent, claiming the price point of $1.62.
Among altcoins that saw losses, Ethena and MYX Finance logged losses on Thuesday. Worldcoin notably dipped by over eight percent, bringing its price to $1.75. Trump-backed token, World Liberty Financial (WLFI), reflected a drop of 1.25 percent over the last day to retail at its present pricing of $0.2002.
With most altcoins having clocked profits, the overall crypto market valuation surged by 2.09 percent, bringing its cap to $3.96 trillion.
“For investors, this phase highlights the importance of staying informed, adopting a research-driven approach and viewing diversification not just as a risk management tool but as a way to participate in the innovation happening across different segments of the crypto economy. As the market matures, disciplined participation backed by knowledge and long-term thinking can be particularly rewarding,” Shekhar added.
The fear and greed index has also moved from the score of 43 to 47, taking the market sentiment from fear to neutral.