The global crypto market cap has rebounded to $3.5 trillion as of January 6, following a 3.2% rise in just 24 hours, with Bitcoin leading the charge nearing the $100,000 mark. XRP, Solana, and Dogecoin emerged as top performers, each posting significant gains. This recovery was influenced by the recent Consumer Price Index (CPI) report, which indicated inflation pressures above the Federal Reserve's target. As a result, market expectations for interest rate cuts have diminished. Additionally, there has been a notable increase in short liquidations in the derivatives market, with over $347 million in positions liquidated, signaling that traders were caught off guard by the bullish trend. The overall crypto market also reclaimed key support from the 50-day simple moving average, establishing a potential for further growth. The upcoming inauguration of Donald Trump, expected to create a more crypto-friendly regulatory environment, is also contributing to this optimism.

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