Bitcoin Surges Past $79,000 as Ethereum Leads Crypto Rally

The recent U.S. CPI data has sparked a rally in cryptocurrencies, with Bitcoin reaching $79,450 and Ethereum surging 8% to $2,632.02.

The annual core inflation rate slowed to 2.4%, its lowest level since March 2021, easing some concerns about persistent price pressures.

Despite the 90% probability of a Federal Reserve interest rate hike, traders are now pricing in the risk, and this has not weighed on Bitcoin's price.

Ethereum is displaying stronger dynamics than Bitcoin, with a daily gain of over 8% and a weekly increase of 7.34%.