Cryptocurrency prices, spearheaded by Bitcoin and Ethereum, have surged following the release of favourable US CPI data, signalling inflation cooling and boosting investor confidence.

The cryptocurrency market has seen a significant uptick, with Bitcoin and Ethereum leading the charge. Analysts attribute this surge to the latest US Consumer Price Index (CPI) report, which suggests cooling inflation rates. Lower inflation often signals a shift in monetary policies, prompting investor optimism. Bitcoin and Ethereum, as flagship cryptocurrencies, are perceived as alternative assets that could benefit from such favourable conditions. Additionally, other macroeconomic factors and increased institutional interest might be fuelling the current upward trend in digital currencies. This rally highlights the dynamic interplay between traditional financial indicators and the highly speculative crypto market, showing how external economic developments continue to impact investor sentiment.