The crypto market is up today as U.S. macroeconomic data shows a strong economy and institutional inflows into crypto continue to rise.
The crypto market is up today as Bitcoin (BTC), Solana (SOL), Cardano (ADA), Chainlink (LINK) and numerous altcoins rallied higher. The price breakout resulted in the total market cap reaching a year-to-date high of $1.59 trillion on Dec. 8.
Let’s examine three major factors influencing today’s crypto market rally.
The crypto market’s price gains in the past 24-hours follow the U.S. Bureau of Labor Statistics employment report. The report beat expectations, with the unemployment rate recording lower than the forecast of 3.9% by 0.2%.
