Crypto Markets See Moderate Gains as US Inflation Hits 3%
BTC briefly touched over $111,500 as traders bet on a Fed rate cut next week.
Crypto markets saw a moderate rally on Friday, Oct. 24, after fresh U.S. economic data showed that annual inflation rose to 3% for the first time since January, reinforcing bets that the Federal Reserve will cut interest rates next week.
Bitcoin (BTC) climbed 2% to briefly reach over $111,500 before retracing slightly, while the total crypto market capitalization rallied 1.5% to reach $3.85 trillion, according to CoinGecko.
Ethereum (ETH) rose 2.6% in the past 24 hours to $3,973, while BNB (BNB) gained 2.8% to $1,117, mostly trading sideways after a sharp spike yesterday on news that Binance founder Changpeng Zhao
