Crypto
Bitcoin Surges Past $65,000 Ahead of Inflation Data Release
Bitcoin rose above $65,000 on Monday, marking a nearly 3% increase over the week. The surge in price comes ahead of this week's inflation data release on Wednesday at 8:30 a.m. ET, which could impact the Federal Reserve's decision to raise interest rates.
The July inflation reading is expected to provide insight into the state of the US economy and may influence the Fed's monetary policy decisions. A weak jobs report on Friday eased worries about a rate hike, contributing to Bitcoin's price increase.
Other cryptocurrencies also saw gains, with Ether trading near $1,919, up almost 3% on the week, while BNB gained 0.3% to $603. Solana was the strongest major, rising 1% on the day and nearly 5% over seven days.