Something just jolted the crypto market, turning its trajectory bullish. In this, Bitcoin has shot past a key level, influencing the broader market, and the credit for that goes to a few macroeconomic events and the traders’ optimistic buzz. Let’s discuss.
Crypto Market Turns Green as Bitcoin and Altcoins Jump Today
The crypto market rose 2.17% in the past 24 hours, and the market cap nears the $4T mark. Notably, the rally is led by Bitcoin, currently trading at $111.4k after a 2.4% surge today. The altcoins are also following along, with Ethereum trading at $4.4k, XRP at $3, and Solana at $222.4.
- Source: CoinMarketCap, Crypto Heat Map
Not only top cryptos, meme coins, and others are surging, presenting the market heatmap in green. The CoinGlass data also shows the liquidation of the shorts as the market moved up, further influencing the uptrend.
US PPI and CPI Data Release Fuels Crypto Market Rally
U.S. Producer Price Index (PPI) came in favor of the potential rate cuts in the upcoming FOMC Meeting. CoinGape experts note that the PPI has dropped sharply below expectations at 2.6% YoY vs 3.3%, with core PPI also cooling.
Not only does this fuel the hopes, but it also increases the possibility of the 50 bps rate cuts as inflation is easing. Additionally, the weakening labor market and the U.S. Labor Dept revised job growth to lower by ~900,000 jobs, signaling a slower economy.
The release immediately fueled the crypto market uptrend, as the Bitcoin price rose to $114k. Notably, this is just the beginning, as now the eyes are on today’s CPI data release.
REMINDER 🚨
🇺🇸 US CPI DATA WILL BE RELEASED TODAY AT 8:30AM ET.
EXPECTATIONS: 2.9%
● IF CPI < 2.9%, BITCOIN AND ALTS WILL EXPLODE
● IF CPI = 2.9%, THE MARKET COULD EXPERIENCE A CORRECTION AS LAST MONTH’S CPI WAS 2.7%
● IF CPI > 2.9%, THIS WILL BE REALLY BAD FOR MARKETS.… pic.twitter.com/TcRrfN5sqO
— Ash Crypto (@Ashcryptoreal) September 11, 2025
Institutional & Market Sentiment Support
As the hopes of rate cuts increase, the market sentiments are supporting the uptrend. CoinMarketCap’s Average Crypto RSI data shows that the market is in overbought conditions, as investors jumped into buying ahead of an anticipated rally.
Besides, the institutional demand is also building. Spot Ethereum ETFs net flow has turned positive in the last two days after a week of outflows. On September 9, the $44.16M inflows were noted, and $171.54M on the next day.
- Source: SoSoValue, Spot Ethereum ETFs Net Flow
Spot Bitcoin ETFs had similar results, with $23.05M and $757.14M in the last two days. There’s also significant buzz around the Dogecoin ETF launch this week, fueling its price surge.
Although the crypto market is up, the market cap is still below the $4T mark. Besides, the investor sentiments aren’t bullish, so analysts suspect that the momentum may fade quickly. The further trajectory will now depend on the crypto events of this week and the Fed’s decision on interest rates.
As a result, investors may use caution in their trading decisions and actively research trends, news, and more.
Frequently Asked Questions (FAQs)
The sharp drop in the Producer Price Index (PPI) and expectation of lower CPI is driving the Bitcoin and altcoins price rally today.
Market sentiment is optimistic, with overbought conditions reflected in crypto RSI data.
After a significant 2.4% price rally, Bitcoin is trading at $114.1k mark.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.
Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry.
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Source: https://coingape.com/trending/why-is-crypto-market-up-today-2/