Bitcoin surges past $65K as markets await inflation data

Bitcoin surged above $65,000, up nearly 3% for the week. Most major cryptocurrencies gained, except XRP. Markets now await key U.S. inflation data and other economic reports to guide the next move.

Bitcoin surged above $65,000, rising nearly 3% over the week after a weaker-than-expected U.S. jobs report eased concerns about imminent Federal Reserve rate hikes. Major cryptocurrencies such as ether, BNB, and Solana also posted weekly gains, while XRP was the only large-cap token to decline. Market attention is now focused on the upcoming U.S. Consumer Price Index (CPI) report, which is expected to be a significant catalyst for crypto prices. Additional economic indicators, including the Producer Price Index (PPI) and energy statistics, are also being closely watched, as they could impact risk sentiment and Bitcoin’s direction, with the asset nearing a critical resistance level. Meanwhile, the crypto market is experiencing notable token unlocks and protocol upgrades, with no major regulatory deadlines this week. The total crypto market capitalization stands at around $1.31 trillion, and analysts are watching to see if Bitcoin can break through resistance or face a pullback depending on the economic data released.