#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 considered to originate from energy, not 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 complaints 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.
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 the GENIUS Act.
Crypto Market Capitalization Moves Back Toward the $2.72 Trillion Threshold
Total crypto market capitalization is 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 threshold, 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, at 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 Fed rate cuts 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 movement boundary since May 6, with rejection candles at the upper limit 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 rising 0.91% in a day. This price action moves within an upward channel formed since late March. The current rebound is forming a new breakout attempt at the channel's upper boundary.
The assessment that CPI increases are mainly due to energy, fueling the market rally, also gives room for Bitcoin to rebound from the channel floor at $79,840, tested on May 12. The Trump-Xi meeting in Beijing now acts as a macro catalyst that could 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 will break the channel and could lead to a decline to lower levels.
Zcash (ZEC) Leads the Privacy Sector as Bull Flag Gains Strength
Zcash (ZEC) is at $584 after jumping more than 5% today, leading the broader privacy sector rebound. This movement pushes the token into the upper boundary of the bull flag formation that developed after a 104% pole 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 formation.
A clean daily close above $592 will 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 movement toward $744. If the price closes below $541.31, the pattern will weaken, and ZEC will enter a down consolidation.