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Bitcoin tops $65,000 with US inflation data due this week
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- DeepHorus
Bitcoin climbed above $65,000 on Monday, gaining nearly 3 percent for the week, as traders awaited U.S. inflation data due Wednesday. Friday’s weaker-than-expected jobs report eased worries that the Federal Reserve would need to hike rates again. Most major cryptocurrencies advanced alongside global stocks, which were trading near record highs.
Ether was near $1,919, up almost 3 percent on the week. BNB added 0.3 percent to $603, and Solana led with a 5 percent weekly jump to nearly $77. Tron held at 33 cents, while XRP slipped 0.4 percent to $1.03, down 4 percent on the week.
The equity market provided tailwinds. The MSCI All Country World Index rose 0.1 percent for a seventh gain in eight sessions, and the S&P 500 reached a record after Friday’s payrolls report. Chipmakers outperformed, with a regional semiconductor gauge up more than 1.5 percent on Taiwan Semiconductor and SK Hynix strength.
Oil prices climbed as Middle East tensions flared. Brent crude rose 1 percent to $84.40, extending a three-session gain of over 5 percent, after Iran rejected U.S. talks. Treasury yields ticked up to 4.66 percent on the 10-year note, and the dollar strengthened.
Bitcoin’s rally persisted despite recent ecosystem troubles. Over the past ten days, a fourth wave of Coldcard wallet sweeps, a BTCPay Server vulnerability that drained merchant Lightning nodes, and a BIP-110 chain split that produced two blocks and stalled have all surfaced. The cryptocurrency held above $65,000 nonetheless.
The consumer price report is the next major catalyst. A hotter inflation reading could revive rate-hike bets and pressure bitcoin, while a cool number would likely reinforce Friday’s risk-on mood. The Fed’s policy outlook remains the dominant driver for digital assets.
