Bitcoin hits $64,700 as US inflation cools, Ethereum rises
Bitcoin shot up to $64,700 on Wednesday as US inflation numbers came in lower than expected, easing worries about quick Federal Reserve rate hikes and making the dollar weaker.
Ethereum also had a good day, climbing 5.3% to $1,875.
Overall, the cryptocurrency market grew by 3.2%, with total value reaching $2.22 trillion as investors kept a close watch on economic signals.
Altcoins gain up to 6.42%
Bitcoin traded between $62,250 and just over $65,000 before settling back a bit.
Altcoins like BNB, XRP, Solana, and Dogecoin also saw gains up to 6.42%.
Analysts say the next big things to watch are the US producer price report and the Federal Reserve's policy meeting later this month.
Still, risks like tensions in the Middle East or rising oil prices could make things bumpy ahead for cryptocurrency fans.