Crypto Price News For March 13: Pepe Up 15%, Story 10%

After a rough start to the week, the crypto market is starting to pick up, with Bitcoin and many altcoins recovering from previous losses. Even with mixed price changes, the overall mood is becoming more optimistic, though concerns about global trade tensions and inflation are still there.

According to Coinmarketcap, the global cryptocurrency market cap has grown by 2.20%, reaching $2.69 trillion. However, market volume has fallen by 13.13%, now sitting at $100.94 billion. Despite this dip in volume, there are positive signs as the CMC 100 Index has increased by 1.74% over the past 24 hours, reflecting some momentum within the market.

Driving Market Forces

Bitcoin, which briefly dropped below $80K earlier this week, is now back up at $83,2K and aiming at $85K. The main factor behind this rebound is the recent U.S. Consumer Price Index (CPI) report, which showed a 2.8% increase year-over-year in February. This was lower than January's 3% growth and the expected 2.9%. The cooling inflation gives hope that the Federal Reserve may slow down interest rate hikes soon.

Even though Bitcoin has bounced back, gains in the wider crypto market are still limited. Investor sentiment remains weak due to concerns over the U.S. trade war and recession fears. A recent Bitfinex report highlights mixed economic conditions, with rising wages and job growth but ongoing inflation and slow business growth. The market is waiting for more data, with the producer price index report coming later this week.

Top Gainers

A mix of coins has managed to stay in the green, continuing their upward momentum from yesterday:

• Pepe (PEPE): +15.55%
• Story (IP): +10.72%
• Celestia (TIA): +8.15%
• Avalanche (AVAX): +7.25%
• Binance Coin (BNB): +4.06%
• Dogecoin (DOGE): +3.12%
• XRP (XRP): +2.73%
• Toncoin (TON): +1.96%
• Bitcoin (BTC): +1.74%
• Tron (TRX): +1.18%
• Bitcoin Cash (BCH): +1.17%
• Solana (SOL): +0.88%
• Shiba Inu (SHIB): +0.41%

Pepe (PEPE) made the most significant move today, gaining a massive 15.55%. Similarly, Story (IP) surged by 10.72%, continuing its upward trajectory, along with Celestia (TIA) which also posted impressive growth, rising by 8.15%.

Avalanche (AVAX) saw a big jump, rising by 7.25%, building on yesterday’s solid performance of a 3.29% rise. Binance Coin (BNB) and Dogecoin (DOGE) also made strong moves, increasing by 4.06% and 3.12%, respectively, with Dogecoin continuing its growth after a 4.21% rise yesterday. XRP also saw a healthy gain of 2.73%, following its impressive 4.19% rise on March 12.

Bitcoin (BTC) is up by 1.74, which is a bit less than its gain yesterday, but still a good sign. Toncoin (TON) and Tron (TRX) continue their recovery, up by 1.96% and 1.18%, respectively. Bitcoin Cash (BCH), which dropped 1.17% yesterday, managed to increase by 1.17% today. Solana also got a slight price growth, being up 0.88%.

Interestingly, Shiba Inu (SHIB) is showing more modest growth today, with a 0.41% rise, a slight slowdown after its 4.05% increase on March 12.

Top Losers

While most coins are seeing gains, a few have experienced losses:

• Hyperliquid (HYPE): -3.63%
• Movement (MOVE): -3.21%
• Hedera (HBAR): -2.37%
• Cardano (ADA): -2.04%
• Ethereum (ETH): -2.03%
• Monero (XMR): -1.97%

Looking at the losses, Hyperliquid (HYPE) saw a sharp drop of 3.63% today, showing signs of a pullback. Movement (MOVE) also faced a loss of 3.21%, continuing its decline after a brief period of growth as the market struggles to find stability.

Hedera (HBAR) also saw a large drop of 2.37%. Cardano (ADA) also faced a loss of 2.04%, reversing its 1.83% gain from yesterday. Ethereum (ETH), which had been gradually climbing by 0.07% yesterday, is now down by 2.03%, signaling a retreat after its recent recovery. Similarly, Monero (XMR) dropped by 1.97%, following a 3.21% gain on March 12.

Despite some altcoins showing resilience today, the broader market remains sensitive to global developments. While U.S. inflation data is improving, worries about geopolitical risks and possible economic slowdowns are keeping investors cautious. The upcoming producer price index report and the Federal Reserve's next meeting are key events that could impact the market in the next few days.