The expected volatility following yesterday’s CPI announcement has indeed reached the crypto markets, but it turned out to be the opposite of what many expected.

Instead of falling again as it did at the start of the work week, BTC’s price shot up and hit a weekly high before the rally was halted.

The aforementioned start to the current work week was brutal for the leading cryptocurrency, as it plummeted from $96,000 to under $90,000 in a matter of hours. In fact, it bottomed out at $89,250, its lowest price since November.

As the community began to question the validity of the bull run, BTC rebounded and soared to $97,000 by Tuesday. It calmed down a bit in anticipation of Wednesday’s CPI announcement, but surged once it came out.

In just a few minutes, the asset rose from under $97,000 to $98,500 and continued to rise, almost reaching $101,000.

Its market cap has grown to $1.960 trillion on CG, but its dominance over altcoins has faltered and dropped to 54.3%.

Alts are back in the green

Most larger-cap altcoins have continued their recent gains. Ethereum has jumped above $3,300 after falling below $3,000 on Monday. DOGE is now above $0.37, while AVAX is close to $40, TRX is around $0.25, and LINK is above $21.

Cryptocurrencies like XRP , SOL, and HBAR among larger-cap altcoins are showing more impressive gains. VIRTUAL has soared the most out of the top 100 altcoins, up 28% on the day. XDC follows with a 17% gain, and LTC is next with 15%.

The combined market cap of all crypto assets now exceeds $3.6 trillion, meaning it has risen more than $300 billion since its low earlier this week.

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