Bitcoin tops $65,000 with US inflation data due this week
Bitcoin has surpassed $65,000 as investors await upcoming U.S. inflation data, despite recent technical challenges within the crypto ecosystem. Broader financial markets remain optimistic following a positive jobs report, though oil prices have risen due to geopolitical tensions.
Why it matters
The performance of Bitcoin in the face of technical hurdles and macroeconomic uncertainty reflects its evolving role as a speculative asset sensitive to U.S. monetary policy.
Ether traded near $1,919 and is also up almost 3% on the week. BNB gained 0.3% to $603 and matched that weekly move. Solana was the strongest major, up 1% on the day to nearly $77 and almost 5% over seven days. Tron held at 33 cents.
XRP was the only major in the red on both views, slipping 0.4% to $1.03 and down 4% on the week. Hyperliquid's HYPE fell over 1% to $54 but remains up over 3% on the week, and dogecoin eased to under 7 cents.
Equities set the tone. The MSCI All Country World Index rose 0.1%, its seventh gain in eight sessions, with the Asian gauge up 0.6% after Friday's soft jobs report sent the S&P 500 to a record.
Chipmakers led, with a regional semiconductor gauge rallying more than 1.5% on gains at Taiwan Semiconductor and SK Hynix.
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