Crypto Market Surges to $2.73 Trillion Amid Fresh Inflation Data and Whale Buying Spree

The crypto market has seen a surge in recent days, with the global market cap reaching $2.73 trillion and Bitcoin nearing $77,265.

This increase is attributed to several factors, including fresh inflation data from the US Bureau of Labor Statistics, which showed a 0.4% rise in the Consumer Price Index for August, surpassing July's 0.1% gain.

Bitcoin whales have also been actively buying the dip, with one whale spending $85.42 million to acquire 1,075.6 BTC at an average price of $79,412 over four days.

In addition, Spot Ethereum ETFs have pulled in $216.41 million on a single day, their best performance this month, with BlackRock's ETHA fund leading the charge with $148.82 million and Bitwise following closely with $29.09 million.