#GateSquareMayTradingShare

Why Are the Crypto Asset Markets Rising Today?

On May 13, the crypto asset market rose nearly 1%, adding $26.87 billion to the total capitalization, reaching $2.67 trillion as hot CPI data is attributed to energy rather than structural factors.

Bitcoin traded at $81,214 after rising 0.91% in an upward channel. Zcash (ZEC) led the altcoins with a 5% rebound as the privacy sector strengthened in anticipation of the Trump-Xi meeting in Beijing.

Latest News Today:-

Trump dismissed Americans' economic concerns as April's CPI hit a three-year high of 3.8% before flying to Beijing. He said stopping Iran's nuclear program is the most important issue.
Telegram CEO Pavel Durov launched Acton, an integrated TON toolchain that enables smart contract development 10 times faster than the old fragmented stack.
JPMorgan filed JLTXX, a tokenized money market fund on Ethereum designed to meet stablecoin reserve needs according to GENIUS Act.
Crypto Market Capitalization Moves Closer to the $2.72 Trillion Threshold

Total crypto market capitalization stands at $2.67 trillion after increasing by $26.87 billion in one day. This 1.01% rise pushes the market close to the $2.72 trillion mark, which has been rejected twice since early May.

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This movement occurred after April's CPI data, which was higher than expected, with a headline of 3.8%. Traders believe this increase is largely driven by the energy sector, not structural factors, with energy contributing over 40% to the rise and gasoline prices rising 28.4% year-over-year.

This composition keeps hopes of a Fed rate cut alive, while the Trump-Xi meeting today could trigger a cooling of oil prices if de-escalation with Iran is achieved.

The area between $2.56 trillion and $2.72 trillion has been the market's trading range since May 6, with rejection candles at the upper boundary on May 6 and 10.

If $2.56 trillion holds, the third attempt to reach $2.72 trillion remains open. If $2.56 trillion breaks, the next support levels are at $2.47 trillion and $2.39 trillion.

Bitcoin Price Rises Toward Resistance of the Upward Channel at $84,000

Bitcoin is at $81,214 after gaining 0.91% in a day. This price action is moving within an upward channel established since late March. The current rebound is forming a new breakout attempt at the channel's upper boundary.

The view that CPI increases are mainly energy-driven, fueling the market rally, also gives room for Bitcoin to rebound from the channel floor at $79,840, which was tested on May 12. The Trump-Xi meeting in Beijing could serve as a macro catalyst to push prices through the resistance if oil prices cool down.

Bitcoin needs to surpass $84,042, which is the 0.236 Fibonacci level, to confirm trend strength.

A daily close above $84,042 targets $86,642, then $90,844. Conversely, a close below $79,840 would break the channel and could lead to a decline to lower levels.

Zcash (ZEC) Leads the Privacy Sector as Bull Flag Gains Momentum

Zcash (ZEC) is at $584 after surging over 5% today, leading the broader privacy sector rebound. This movement pushes the token into the upper boundary of a bull flag pattern formed after a 104% rally from April 29 to May 9.

Risk-on sentiment boosting the entire market due to energy-based CPI also spilled over into small-cap assets. However, ZEC's setup has its own technical factors. Selling volume has been consistently compressed during consolidation, while buying volume has started to grow again as the price tests the upper boundary of the flag pattern.

A clean daily close above $592 would confirm the flag breakout. The first target is $618, followed by $744 at the 0.618 Fibonacci level, then $869 as an upward pole projection.

A daily close above $592 opens the door for further gains toward $744. If the price closes below $541.31, the pattern will weaken, and ZEC may enter a downtrend consolidation.