Crypto Market Gains $110B as Bitcoin Climbs Above $96,000
Global crypto capitalization jumped about $110 billion on Wednesday as Bitcoin vaulted through the key psychological $95,000 level and traded near $96,000, while many altcoins posted notable gains. The move came even after the U.S. November Producer Price Index surprised to the upside, signaling rising inflationary pressures that would normally be seen as bearish for risk assets. Traders appeared to favor crypto risk-on positioning in the immediate reaction.
The divergence matters because it shows crypto’s sensitivity to macro headlines is evolving: hotter inflation didn’t trigger an outright sell-off, suggesting factors like ETF flows, renewed buying interest and leveraged positioning helped underpin prices. That said, volatility is still elevated and upcoming CPI prints and Fed commentary could quickly change the tone, so traders should watch liquidity and macro data closely.