Crypto Markets Rally as Traders Digest PPI Data
Bitcoin and Ethereum post gains after softer PPI data while ETFs see steady inflows.
Major digital assets posted gains on Wednesday, July 16, after core Producer Price Index (PPI) inflation data came in cooler-than-expected.
Bitcoin (BTC) is currently trading at $119,560, up 2.4% on the day, about 2.6% shy of its latest all-time high of $122,800, recorded on Monday, July 14.
Ethereum (ETH) jumped nearly 9% over the past 24 hours to trade around $3,312 — its highest price since February — making it the best performer today among the top-20 crypto assets. ETH has had a strong week, up over 25%.
Solana (SOL) followed with a 7.4% gain to $173 today, while XRP rose 5% to break over $3, up nearly 28%…
