From Investing.com: 2024-05-16 01:50:03

Bitcoin price surged 6.4% to $65,844 as the dollar weakened after softer CPI data. Rebounding from $60,000, Bitcoin was boosted by lower inflation and Treasury yield rates, although still above the Fed’s 2% target. Regulatory concerns and stagnant ETF activity keep Bitcoin rangebound.

Altcoins enjoyed gains with Ethereum up 3.4% and Binance Coin up 3.6%. Dogecoin soared 12.3% to a one-month high but lags behind 2024 peaks. Despite the rally, most altcoins struggle to reach March highs, following Bitcoin’s lead. Ethereum remains a standout performer within the altcoin market.

Read more at Investing.com: rebounds to $65k after CPI data, but still rangebound By Investing.com