Other tokens joined the upward movement, with Hyperliquid climbing 8.9% and World Liberty Financial’s token gaining 7.6% over the past day.
Aster News
The cryptocurrency market cap climbed 1.4% over 24 hours to $2.39 trillion as altcoins posted broad gains Thursday. Aster, the native token of perp DEX Aster, surged nearly 10% to lead recoveries among the top 50 cryptocurrencies by market capitalization.
The altcoin rebound partially reversed losses triggered by Wednesday’s strong labor market data. The U.S. added 130,000 jobs in January, reducing market expectations for Federal Reserve interest rate cuts and signaling continued economic resilience.
Tim Sun, senior research analyst at HashKey Group, said the market has not yet experienced a structural trend reversal. Market sentiment remains fragile, and the risk of continued downward movement cannot be ruled out in the short term, though on-chain data and capital flows suggest buying support is strengthening.
Friday’s inflation print has become the focal point for crypto traders. The delayed January Consumer Price Index data could influence rate cut expectations, with forecasts predicting a reduction from December to 2.5% year-over-year.
Sun characterized the current environment as a bottoming-out phase where downside potential and volatility begin to converge. Even if further corrections occur, the intensity of selling pressure is likely to fade during this period, he said in a previous report.
The broad-based altcoin recovery demonstrates renewed buying interest after recent declines. However, analysts maintain that sustained upward momentum will require improved macro conditions and clearer signals on Federal Reserve policy direction in the coming months.
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