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The cryptocurrency market is on the rise today, fueled by favorable consumer price index (CPI) data and growing confidence in a crypto-friendly regulatory environment under the elected US President Donald Trump. As of January 16, 2025, the global cryptocurrency market capitalization has grown by 3.2% over the past 24 hours, reaching $3.5 trillion.Bitcoin leads rally, approaches critical $100,000 mark.
XRP, Solana (SOL), and Dogecoin (DOGE) are among the best-performing assets:
XRP: up 7.7%, trading at $3.05.
Solana (SOL): up 7.2%, hitting $200.33.
Dogecoin (DOGE): up 4.5
While the CPI report and Trump's inauguration offer a favorable backdrop, traders remain cautious. Renewed selling pressure or unexpected Macroeconomic developments may challenge the current growth. At the moment, the bullish momentum of the crypto market sets it up for potential growth in the coming days. 3 replies
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