Mooners and Shakers: Bitcoin claws back to $40k amid new US inflation data; SHIB soars on Robinhood listing

Coinhead Rob Badman
Bitcoin 40K usd

Shiba Inu is pumping today (Getty Images)

Bitcoin has clawed its way back above US$40k at the time of writing. And that’s on a day fresh Consumer Price Index figures revealed US inflation is at a 41-year high.

According to the April CPI data published by the US Bureau of Labor Statistics, the US annual inflation rate has risen to 8.5 per cent, increasing by 1.2% since March.

Market participants were largely expecting an increase in this sort of vicinity, which might be why equities/stonks and crypto have actually recovered some ground today.

Still looming, however, is the US Federal Reserve’s next interest-rate-hiking, economy-tightening response amid increased speculation of a global recession.

It’s a US-economy-driven menagerie of cats vs mice and bulls vs bears – an uncertain narrative that’s likely to keep crypto investors on their toes for some time yet.

 

Top 10 overview

With the overall crypto market cap at about US$1.97 trillion, up about 0.2% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

And yep, those other three: DeFi blue chip Compound (COMP, +7%); Layer 2 Ethereum sidechain Polygon (MATIC, +5%); and dog-meme coin Shiba Inu (SHIB, +18%) are all faring particularly well today, too.

Meanwhile, can Bitcoin (BTC) continue back up from here in the short term? Dutch trader Michaël van de Poppe’s in a mind to think so…

 

Sweeping a market-cap range of about US$19.5 billion to about US$1 billion in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time.

DAILY PUMPERS

• Shiba Inu (SHIB), (market cap: US$14.9 billion) 18%

• Synthetix (SNX), (mc: US$1.1 billion) +8%

• ApeCoin (APE), (mc: US$3.2 billion) +6%

• Near Protocol (NEAR), (mc: US$11 billion) +5.5%

• Polygon (MATIC), (mc: US$9.8 billion) +5%

 

DAILY SLUMPERS 

• Zilliqa (ZIL), (mc: US$1.56 billion) -10%

• STEPN (GMT), (mc: US$1.3 billion) -9%

• Mina Protocol (MINA), (mc: US$1.1 billion) -6%

• Convex Finance (CVX), (mc: US$1.7 billion) -5%

• Zcash (ZEC), (market cap: US$1.8 billion) -4%

 

Uppers and downers: lower caps

Moving below the crypto unicorns (in some cases well below), here’s just a selection catching our eye…

DAILY PUMPERS

• Metal (MTL), (market cap: US$149 million) +50%

• PARSIQ (PRQ), (mc: US$58m) +29%

• JPEG’d (JPEG), (mc: US$91m) +28%

• Bitrue Coin (BTR), (mc: US$122m) +26%

• MATH (MATH), (mc: US$58m) +20%

 

DAILY SLUMPERS

• ICHI (ICHI), (mc: US$54m) -81%

• Cult DAO (CULT), (mc: US$103m) -20%

• Onston (ONSTON), (mc: US$55m) -10%

• TitanSwap (TITAN), (mc: US$300m) -9%

• Concordium (CCD), (mc: US$69m) -9%

 

Around the blocks

Crypto Twitter is a hive of activity today, as per. Here’s a handful of tweets that made us briefly stop in our scrolling tracks…

A Punk on sale for 2,900 ETH? At the current price, that’s almost US$8.8 million. Seems a tad ambitious in this current market. Still… one (#5822) did sell for about US$23.7 million a couple of months ago…

 

Related Topics

BitcoinCryptocurrency

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