Bitcoin remains above $70,000 despite low U.S. inflation
March 12, 2026
Bitcoin continues to maintain its position above $70,000 as U.S. inflation remains relatively subdued, with the consumer price index edging up by 0.3% for the month. The annualized U.S. inflation rate stands at 2.4%, meeting market expectations. This stability in inflation has contributed to a positive trajectory in the crypto markets, with Bitcoin trading at approximately $70,500, marking a 0.5% increase over the past 24 hours.
Moreover, Ethereum (ETH) saw a 1.4% climb to $2,070, while Solana (SOL) also experienced gains of 1.2% as it reached $87. On the other hand, XRP remained flat on the day. The general crypto market capitalization rose by 0.5% to $2.48 trillion, showcasing the overall strength and resilience of the digital asset space.
In other financial markets, crude oil (WTI) is trading at about $85 per barrel following the announcement by International Energy Agency (IEA) member nations to release 400 million barrels from their emergency stockpiles. The equities market also saw stability, with the S&P 500 and Nasdaq remaining unchanged for the day.
Among the top 100 digital assets, most recorded gains over the past 24 hours. Notably, Internet Computer (ICP) surged by 9%, making it one of the leading gainers, followed closely by Hyperliquid (HYPE) with a 6% increase. Conversely, Midnight (NIGHT) and Zcash (ZEC) were among the biggest losers during this period.
Leveraged traders experienced significant liquidations, totaling $183 million in the past 24 hours, with Bitcoin accounting for $62 million and ETH positions comprising $44 million of the total amount. Bitcoin exchange-traded funds (ETFs) also saw inflows of $251 million on Tuesday, reflecting continued interest and investment in the leading cryptocurrency.
Overall, the market remains dynamic and responsive to various economic indicators and announcements. The crypto space, in particular, continues to demonstrate strength and resilience in the face of fluctuating external factors. This ongoing stability and growth bode well for investors and traders alike, providing opportunities for strategic financial decision-making in this evolving landscape.
