The crypto market was steady early Wednesday, with bitcoin (BTC) bouncing back above $112,000.
Smaller coins like IP, MNT and PUMP posted double-digit gains over the past 24 hours, lifting CoinMarketCap’s altcoin season index to almost 60% in a signal that the season has probably started.
Story Protocol’s IP token rose to over $10 as Heritage Distillery, one of the companies to adopt altcoins as treasury assets, refined strategy to build IP reserves.
Traders are looking to tomorrow’s U.S. inflation data to set the tone for the next big move in asset prices.
“With inflation and jobs revisions intersecting, market sentiment in the short term still favors rate-cut optimism,” analysts at Bitunix said in an email.
“If data stays within a moderate range, risk assets could see rebound potential. However, if inflation overshoots expectations, dollar strength may pressure BTC and ETH. Key levels to watch: BTC 108,800 support and ETH 4,250 support.”
