🚨 CRYPTO MARKET UPDATE – MAY 13: SHARP CORRECTION AFTER A STRONG RALLY
On Tuesday morning (May 13), the crypto market experienced a notable pullback after a week of strong upward momentum.
📉 According to CoinGecko:
Bitcoin (BTC) dropped nearly 2%, settling at around $102,300.
Major altcoins like ETH, SOL, and DOGE fell between 2% to 5%.
Interestingly, $XRP , often viewed as a “market signal,” surged by over 4% in the last 24 hours.
💰 The total crypto market cap now stands at $3.4 trillion, with $182.5 billion in 24-hour trading volume.
🔎 KEY HIGHLIGHTS:
🟩 $BTC : Michael Saylor, Chairman of MicroStrategy, announced that the company purchased an additional 13,390 BTC (worth $1.34 billion) at an average price of $99,856 per BTC last week.
➡️ This marks the fifth consecutive week of Bitcoin accumulation, raising their total holdings to 568,840 BTC, valued at over $58 billion.
📊 According to CoinShares, crypto investment funds received $882 million in inflows last week, as investor sentiment improved due to easing tariff concerns.
🌐 Global Politics: Former U.S. President Donald Trump stated that U.S.-China relations have been “completely reset” and mentioned he may have a direct conversation with a senior Chinese leader later this week.
🟨 $ETH : Following the Pectra upgrade, ETH has surged nearly 40%, surpassing Coca-Cola and Alibaba in the global ranking of top market-cap assets.
📈 Later tonight (May 13), the U.S. will release the April CPI data.
➡️ Forecast: 2.4%, matching the previous month. This report could significantly influence short-term market trends.
