Bitcoin price today: rebounds to $65k after CPI data, but still rangebound
Investing.com-- Bitcoin price rose on Thursday, benefiting from a weaker dollar after some relatively softer consumer inflation readings for April, although the token remained comfortably rangebound as sentiment towards crypto remained subdued.rose 6.4% in the past 24 hours to $65,844 by 01:21 ET . The token had pushed as high as $66,600, before losing some momentum.Bitcoin rebounded on Wednesday after sinking as low as $60,000 earlier this week.
This notion limited any major gains in Bitcoin, keeping the token trading comfortably within a $60,000 to $70,000 trading range established over the past two months. Increased risk appetite, which was reflected in Wall Street hitting record highs, also did not spill over into crypto. Bitcoin’s rangebound performance also comes as capital flows and trading activity in spot exchange-traded funds, which were a key driver of its March rally, largely stagnated in recent weeks.Major altcoins also clocked sharp gains on Thursday, although a bulk of tokens remained well below highs hit in March, when they had piggybacked the Bitcoin rally.was an outperformer, rising 12.3% to an over one-month high. But the token also remained well below its 2024 peaks.
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