Bitcoin and ether (ETH) consolidated during Asian and European hours after rallying on Tuesday following a weaker-than-forecast U.S. inflation figure.
Bitcoin, while more than 3% higher over 24 hours, fell 0.6% since midnight UTC as tensions between Iran and the U.S. over tanker movements in the Strait of Hormuz ramped up. The largest cryptocurrency earlier touched a three-week high of $65,200.
Ether marked a similar trajectory, remaining 5% higher over 24 hours even after dropping 0.8% since midnight. It touched $1,895, the highest level since June 3, on Tuesday.
U.S. equities also rose in the period, with Nasdaq 100 futures and S&P 500 futures posting respective gains of 0.53% and 0.22%.
The altcoin market also showed…
