Cryptocurrency values are up, but so is the price of everything else in the United States! Investor curiosity in BTC grows as data shows U.S. inflation rose to a 30-year high.
Currently, the global crypto market cap stands at $2.94 trillion, an increase of 3.21%. Other cryptocurrencies were also trading in the green.

If this type of extreme drop bothers you, you may have too much riding on your crypto investments. You should only invest what you’re OK losing. But even if the drop is making you rethink your crypto allocations, the same advice still stands — don’t act rashly or upend your strategy too quickly. Reconsider what you might be more comfortable with going forward, such as allocating less to crypto in the future or diversifying through crypto-related stocks and blockchain funds rather than directly buying crypto (though you should still expect volatility when cryptocurrency markets fluctuate).
Despite the massive swing in value on the Binance US exchange, Bitcoin’s value on other exchanges remained stable. There has been speculation on the exact cause of the spike, though Binance offered a short statement to Bloomberg explaining that one of its institutional traders was responsible.