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The cryptocurrency market is exhibiting signs of recovery, driven by increasing interest from global investors. Despite the inflation data released in the US, the market’s positive outlook stands out. Notably, the value increases in Bitcoin 
$110,917 and Ethereum 
$2,611 are boosting investors’ risk appetite. The market capitalization rose by 2.91%, reaching $3.23 trillion, while trading volume saw a significant increase of 24.91%.
Bitcoin and Ethereum Display Strong Gains
Within the cryptocurrency market, Bitcoin gained 2% in the last 24 hours, reaching $97,539. This rise occurred in parallel with the overall optimism in the market. Expert Ali Martinez noted that if Bitcoin surpasses the resistance level of $97,530, it could trigger a new wave of increases, prompting investors to closely monitor Bitcoin’s movements.
Ethereum also emerged as one of the most notable cryptocurrencies in the market. Its value increased by 6%, reaching $2,742. Other cryptocurrencies like XRP and Solana 
$176 also experienced similar gains, indicating that this upward trend signifies general recovery signals in the market. Popular meme coins Dogecoin 
$0.238261 and Shiba Inu also benefited from this positive atmosphere, showing significant increases in their hourly trading volumes.
Winners and Losers
Among the biggest gainers in the market, PancakeSwap stood out, gaining 59% in the last 24 hours and attracting investors’ attention. Onyxcoin and Jito also rose by 22% and 17% respectively. These rapid increases reveal the potential for greater profits among certain altcoins in the market.
On the other hand, some cryptocurrencies, including Bitget Token, DeXe, and Helium, experienced declines in value over the same period. These losses serve as a reminder that despite the general optimism in the market, some cryptocurrencies may still perform negatively.
While experts advise investors to maintain cautious movements, the increase in trading volume and market capitalization reflects sustained interest in the cryptocurrency space. Investors closely monitoring market dynamics continue to strategize based on these developments.
