Bitcoin Surpasses $62,000 Following PCE Data; Bonk Emerges As Top Gainer
Portfolio Pulse from Avi Kapoor
Bitcoin surpassed the $62,000 mark and Ethereum traded above $3,400 following the release of the US PCE data for January 2024, indicating a rise in core PCE prices. Bonk emerged as the top gainer in the crypto market, which saw an overall 24-hour gain of 3.5%, reaching a global market cap of $2.31 trillion. Pepe was the biggest loser during the same period.
February 29, 2024 | 3:31 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Pepe was the biggest loser, experiencing an 11.2% drop in the last 24 hours.
Pepe's significant drop reflects negatively on its market perception, potentially leading to decreased investor confidence.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Bonk emerged as the top gainer with a 38.1% increase in the last 24 hours.
Bonk's significant gain positions it as a notable asset in the current market, potentially attracting more investor interest.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bitcoin surpassed the $62,000 level, trading higher by 3.6% at $62,582 following the US PCE data release.
The positive movement in Bitcoin's price following the PCE data release suggests investor confidence in Bitcoin as a store of value amidst economic indicators.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ethereum recorded gains, trading above the $3,400 mark, with a 3.6% increase to $3,471.
Ethereum's price gain, similar to Bitcoin's, indicates strong market sentiment and investor confidence in Ethereum's potential.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100