Bitcoin has experienced a remarkable surge in price, reaching a 3-week peak of over $66,000, driven by substantial ETF flows and positive US CPI numbers. This surge has not only propelled Bitcoin but has also had a positive impact on the broader altcoin market.

Bitcoin's Price Action

After a period of underwhelming price actions, Bitcoin saw a significant rally following positive US CPI numbers, meeting expectations at 3.4%. This, coupled with inflows in spot BTC ETFs, drove Bitcoin's price to surpass $66,000, marking a notable increase from its recent levels around $61,000.

Despite some minor corrections, Bitcoin continues to trade above $66,000, with its market cap surpassing $1.3 trillion and its dominance over altcoins close to 52%.

Altcoins Join the Rally

The rally in Bitcoin has had a ripple effect on altcoins, with many experiencing green candles on the charts. Ethereum has reclaimed the $3,000 level, while Binance Coin, XRP, and DOGE have also seen notable gains.

However, the most impressive performances come from Solana (SOL) and NEAR Protocol's native token, which have surged by 13% and 17%, respectively. SOL now stands above $160, while NEAR trades north of $8.1.

Total Crypto Market Cap Reaches $2.5 Trillion

The surge in Bitcoin and altcoin prices has contributed to a significant increase in the total crypto market cap, which has added roughly $150 billion since yesterday's low, reaching above $2.5 trillion.

Overall, the recent price movements indicate renewed bullish sentiment in the cryptocurrency markets, driven by positive fundamentals and increasing institutional interest. As the market continues to evolve, investors remain optimistic about the future potential of digital assets.