Bitcoin nears $122,000 as crypto rallies ahead of key CPI data release
Bitcoin has surged above $122,000, nearing its all-time high, while Ethereum has risen more than 21% in recent days, reaching $4,300 [1]. This sharp rally in the leading cryptocurrencies has occurred ahead of the upcoming release of the U.S. Consumer Price Index (CPI) data, a key economic indicator that traders anticipate could significantly influence market sentiment and asset valuations [2]. Analysts suggest that a softer-than-expected CPI report may bolster crypto markets by reinforcing expectations of lower interest rates and improved liquidity [3].
The Bitcoin rally has been particularly aggressive, with some platforms reporting a 3.2% daily increase in the past 24 hours, bringing the digital asset within 1% of its historical peak…
