Bitcoin Hits $66K as Soft Inflation Data Sparks Crypto Rally
Summary
Crypto markets rallied as U.S. inflation data softened. Bitcoin surged past $66,000, up over 7% in 24 hours. Ether underperformed with a 4% advance. Solana and NEAR led gains, up 8% and 12% respectively. The rally was driven by lower CPI figures and sluggish retail sales, easing fears of inflation and interest rate hikes. U.S. equities also climbed, with the S&P 500 hitting a fresh all-time high. This breakout may lead Bitcoin to rally to $69,000 and potentially reach new all-time highs at $84,000, with altcoins following suit.
