Bitcoin, Ethereum Regain Support Levels; SOL & LTC Price Rise Too

Major cryp­tocur­ren­cies are seen to trade in the green zone in the last 24 hours. This includes Bit­coin (BTC) and Ethereum (ETH) like promi­nent cryp­tocur­ren­cies which rose over 1.5%. BTC and ETH attained cru­cial sup­port lev­els, but oth­er alt­coins have sur­passed them in terms of intra­day growth. For instance, Solana (SOL) saw over 4% increase while Lite­coin (LTC) not­ed more than 3% rise. 

Though there were no indus­try-spe­cif­ic instances that took place, the recent CPI report could be behind the pump giv­en the instance that fol­lowed the report released on Wednes­day, Sep­tem­ber 13th. 

The report not­ed that the annu­al infla­tion rate dur­ing August saw an accel­er­a­tion. How­ev­er, the Con­sumer Price Index (CPI), oth­er than food and ener­gy prices, saw a decrease. 

Along with the cryp­tocur­ren­cy mar­ket, Wall Street also expe­ri­enced opti­mism result­ing in U.S. stock futures trad­ing higher. 

At the press time, Coin­Mar­ket­Cap data shows that Bit­coin (BTC) is trad­ing at $26,272 fol­low­ing an increase of over 1% in the last 24 hours while it is up by 2% in the last week. 

The price set­tled down at the cur­rent price after attain­ing a price point above $26,300. The instance is cru­cial for the cryp­to asset since it has been trad­ing below $26,000 for the past few weeks. 

In addi­tion, Ethereum (ETH) fol­lowed in chas­ing the cryp­to market’s price growth. ETH saw a low trad­ing price at $1,540 this week but fol­low­ing the recent price increase, it went above the $1,600 price lev­el. The cryp­tocur­ren­cy is trad­ing at $1,618 fol­low­ing a 1.7% increase in the last 24 hours. 

Solana (SOL) rose like a star among the top alt­coins as the cryp­tocur­ren­cy gained the most in the last 24 hours. SOL is trad­ing at $18.8 after ris­ing over 4%. 

FTX Offload of Bitcoin, Ethereum Might Affect

One of the events wait­ing ahead to kick off and like­ly to impact the cryp­tocur­ren­cy price is the liq­ui­da­tion of Bit­coin, Ethereum, and Solana-like cryp­tocur­ren­cies belong­ing to FTX. The Unit­ed States court approved FTX’s request of liq­ui­dat­ing cryp­tocur­ren­cies in its pos­ses­sion seek­ing to repay its investors and customers. 

Accord­ing to Monday’s court fil­ing, FTX’s port­fo­lio holds $3.4 Bil­lion worth of cryp­to assets. It includes $1.16 Bil­lion in Solana (SOL), $560 Mil­lion worth of Bit­coin (BTC), and $192 Mil­lion of Ether (ETH), Reuters reported. 

The news of a bank­rupt cryp­to exchange sell­ing off its cryp­to assets made cryp­to prices flick­er for a while. How­ev­er, the assets trad­ed in green despite a slight dip.

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