Bitcoin Hits $66K as Soft Inflation Data Sparks Crypto Rally

Wednesday, 15 May 2024, 20:11
The recent surge in Bitcoin reaching $66,000 was triggered by the softer inflation data and sluggish U.S. retail sales. This has further fueled the ongoing crypto rally. Swissblock indicated that this development has set the stage for the next significant uptrend in the cryptocurrency market.
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Bitcoin Hits $66K as Soft Inflation Data Sparks Crypto Rally

Bitcoin Hits $66K Amid Cryptocurrency Rally

The recent increase in the value of Bitcoin to $66,000 has been influenced by the soft inflation data and underwhelming U.S. retail sales performance.

Key Points:

  • Bitcoin surge: Reaches $66,000 following subdued inflation reports.
  • Crypto rally: Market experiences uptrend amid weaker economic data.

According to Swissblock, this development signals a potential uptrend in the cryptocurrency market, propelled by economic indicators.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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