Crypto Market Sees Bullish Momentum Continue Amidst Inflation Data Hopes

The crypto market wrapped up its weekly trade on a bullish note, with Bitcoin reclaiming $65,000 and Ethereum approaching $2,000. The traditional markets and gold also posted strong gains, with the S&P 500 rising 3.6% and gold surging 7.5%. This week's inflation data could be key to determining whether this momentum continues, as lower yields and expectations of a more accommodative Federal Reserve have been supportive of stocks, precious metals, and cryptocurrencies.

For Bitcoin, the next major test will come from its ability to hold above $65,000. If it can sustain trading above this level, the path toward $67,000 becomes increasingly plausible. However, Bitcoin still faces overhead resistance, and a rejection near $65,000 would weaken the bullish setup.

Ethereum's recovery above the $1,800, $1,820 support zone puts $2,200 within sight if it can clear the resistance levels at around $1,961. A decisive breakout above this zone could strengthen the bullish structure and bring $2,200 into focus.