Bitcoin Blasts Past $65K as Inflation Data Looms

Bitcoin surged past $65,000 on Monday, marking a nearly 3% gain for the week. The price jump comes ahead of this week's US inflation data release, scheduled for Wednesday at 8:30 a.m. ET. A weak jobs report last Friday eased concerns about potential Federal Reserve rate hikes.

Ethereum followed suit, trading near $1,919 and also up almost 3% on the week. Meanwhile, other major assets saw mixed results, with Solana rising nearly 5% over seven days to reach $77. In contrast, XRP slipped 0.4% to $1.03.

The broader market seemed to set the tone for cryptocurrency prices, with equities experiencing a seventh gain in eight sessions. The MSCI All Country World Index rose 0.1%, driven by gains from chipmakers like Taiwan Semiconductor and SK Hynix.