Bitcoin Hits $66K as Soft Inflation Data Sparks Crypto Rally
Sluggish U.S. retail sales and softer inflation reports have opened the way for the next leg up in the crypto rally, Swissblock said.
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Sluggish U.S. retail sales and softer inflation reports have opened the way for the next leg up in the crypto rally, Swissblock said.
Bitcoin nearly doubled in price since late January, but a “counter move seems to be near,” Swissblock analysts said.
Bitcoin’s sharp rebound from Tuesday’s plunge indicates a start of a new rally targeting $76,000, Swissblock said.
Bitcoin has led the crypto advance this year, but altcoins could start outperforming soon, analysts said.