US CPI Announcement Today, Bitcoin Flat in Anticipation (Market Watch)

Bitcoin has held steady around $27,500 in the past day, but that is likely to change later today as the US prepares to release CPI numbers for April.

Altcoins are also sitting quietly today, with little to no moves out of the top 20.

BTC stopped at $27.5K

Bitcoin started an impressive run this past weekend that culminated in approaching $30,000 on Saturday morning. Despite this, the subsequent rejection pushed the asset south hard, and it found itself falling below $29,000.

Sunday was less eventful, but the scene changed for the worse again on Monday and Tuesday. BTC first fell to $28,000 before bears pushed it south to a weekly low of $27,300 yesterday.

Since then, bitcoin has managed to regain some ground and is currently standing at $27,500. More volatility is expected later today when US CPI figures for April are released. Here are the dates of the most important US events that could have historically affected the price of Bitcoin.

As of now, BTC’s market capitalization stands above $530 billion, while its dominance over altcoins is only 47%.

Alts sit quietly

Although they are more volatile in nature, the large-cap altcoins haven’t registered any significant moves over the past 24 hours either. Ethereum continues to trade just below $1,850, XRP is just above $0.4, while DOGE, TRX, LTC, and SHIB post slight daily gains.

In contrast, BNB, MATIC, ADA, and DOT all charted slight daily losses. The most significant gainers come from the top 100 alt-brands – KAVA and Bitcoin SV. Both are up over 10% on the day.

Overall, though, the total market cap of cryptocurrencies has been holding steady since yesterday at $1.140 trillion. However, the metric has fallen by more than $65 billion since the weekend.