Crypto Today: BTC rekindles all-time high prospect as SOL, ETH and DOGE lead $3.5 trillion recovery

• Cryptocurrencies gained 2% on Tuesday, pushing the aggregate market cap above the $3.5 trillion mark.
• BTC price rose 2% to reclaim the $104,400 level after Monday's profit-taking frenzy led to a drawdown to $101,368.
• Ethereum, Solana and Dogecoin emerged as the top performers among the top 10 ranked assets.

The global crypto market capitalization rose by another 2% on Tuesday, retaking the $3.5 market cap milestone after a brief dip towards $3.2 trillion on Monday. In terms of key bullish catalysts, vital figures in the US CPI data released have raised expectations of imminent Fed rate cuts. 

Bitcoin market updates: 

• Bitcoin price rises by 3% on Tuesday, trading as high as $104,800 on Binance before facing rejection.
• With 24-hour BTC trading volumes at $33 billion, Bitcoin market activity continues to trend near weekly time frame peaks. 

Chart of the day: US CPI data lifts Crypto market momentum

According to TradingEconomics charts, Consumer Price Index CPI in the United States increased to 320.80 points in April from 319.80 points in March of 2025.

Notably, this annual inflation rate in the US eased to 2.3% in April 2025, the lowest since February 2021, from 2.4% in March and below forecasts of 2.4%.

US Consumer Price Index (CPI) data, May 13, 2025 | Source: TradingEconomics/ US Bureau of Labor Statistics. 

This boosted sentiment across global financial markets with Bitcoin’s near-misses at the $105,000 levels anchoring mid-range altcoins towards significant gains.  

Altcoin market updates: Ethereum, Solana and Dogecoin rally hints at fresh bull cycle after lowest CPI print since 2021

Altcoins extended their winning streak on Tuesday as macro tailwinds and technical breakouts converged across the crypto market. The global cryptocurrency market cap climbed 2.2% in the last 24 hours to $3.53 trillion, lifted by positive sentiment following the U.S. April CPI data, which printed at 2.3%, its lowest since February 2021.

Top 10 Cryptocurrencies performance, May 13 | Source: CoinGecko

Ethereum surged 9.0% to $2,687.03, riding high on optimism surrounding its ecosystem growth and staking momentum. Solana followed with a 5.9% gain to $182.26, supported by renewed bullish momentum after the Pump.fun revenue-sharing update sparked a surge in creator activity. Dogecoin also impressed, rising 5.7% to $0.239 as retail flows returned to top-ranked meme tokens.

When top-ranked memes attract a burst of new inflows and cross key resistances simultaneously, it often signals the start of a fresh bull cycle. If this narrative holds, the rally could trickle down towards mid-cap altcoins and low-cap memecoins as markets digest the favorable US CPI print, in the coming days. 

Crypto news updates: 

Thailand announces $150 million token launch for public investment

Thailand’s Finance Ministry will launch $150 million worth of digital investment tokens, known as G-Token, within the next two months.

The initiative, led by Finance Minister Pichai Chunhavajira, has received cabinet approval and is aimed at offering the public investment options with higher returns than traditional bank deposits.

The G-Token issuance is structured to raise funds for the national budget without being classified as public debt.

Crypto CEO’s daughter and grandchild survive kidnapping attempt in Paris

French authorities are investigating a kidnapping attempt involving the daughter of a prominent crypto company CEO and her two-year-old child in central Paris. The attack occurred Tuesday morning on Rue Pache in the 11th arrondissement, where three masked men tried to force the woman and child into a van disguised as a Chronopost delivery vehicle.

The abduction was prevented when the child’s father intervened and physically confronted the attackers, despite sustaining injuries. The suspects fled in the same van, which was later found abandoned nearby. The Paris prosecutor's office is leading the investigation, suspecting financial motives linked to the family’s crypto connections.