While the price of Bitcoin (BTC) has risen by about 11% in the last 24 hours, with this rise, the world’s largest cryptocurrency has reached its highest level since 15 August 2022. The latest data announced in the US led to a decrease in risk appetite in global markets. Accordingly, January inflation increased by 6.4 per cent on an annual basis, against market expectations of a 6.2 per cent increase. Following this data, another data released on Wednesday showed that retail sales in the US increased above expectations and the economy continued to remain strong. While these data led to increased selling pressure on Bitcoin along with other risky assets, Bitcoin broke this pressure and exceeded $ 24,700 as of today. The daily rise in the world’s largest cryptocurrency exceeded 11 per cent after this, and thus exceeded $ 24,500 for the first time in 6 months. The rise in Bitcoin also triggered the rise in other altcoins. Accordingly, Ethereum rose 8.82 per cent to $ 1,688. Binance Coin rose 7.95 percent to $ 321.9, Ripple gained 4.65 percent to $ 0.4006. Cardano (ADA) rose 5.95 percent, Polygon 11 percent, and Dogecoin 3.22 percent. As of this morning, the total market value of cryptocurrencies increased by $ 98 billion in the last 24 hours to $ 1 trillion 115 billion.