Bitcoin tops $65,000 as inflation data and equities near records
In brief
- Bitcoin topped $65,000, up 3% weekly, ahead of Wednesday's inflation data.
- Ether near $1,919 and BNB at $603 each gained ~3% on the week.
- XRP fell 4% weekly to $1.03 as equities surged near records.
- Soft Friday jobs report eased Federal Reserve rate-hike concerns.
- BTCPay Server flaw drained merchant Lightning nodes; BIP-110 chain split stalled.
Crypto follows equities higher
Bitcoin climbed nearly 3% over the week alongside a broad rally in risk assets. Ether traded near $1,919 and gained almost 3% on the week, while BNB gained 0.3% to $603 and matched that weekly move. Solana outpaced the group—up 1% on the day to nearly $77 and almost 5% over seven days.
The broader equity market set the tone. The MSCI All Country World Index rose 0.1%, its seventh gain in eight sessions, after Friday's soft jobs report sent the S&P 500 to a record. That weakness in employment data eased expectations for aggressive Fed action. It's the kind of macro signal that moves everything—stocks, bonds, crypto, commodities.
XRP was the only major in the red on both views, slipping 0.4% to $1.03 and down 4% on the week. The outlier stood out against the broader bid.
Inflation and energy tensions ahead
Wednesday's CPI release carries real weight. Markets have priced in a softer inflation print—if the data surprises to the upside, the Fed's rate path could shift and crypto volatility could spike. The 10-year Treasury yield rose a basis point to 4.66%, reflecting subtle shifts in rate expectations.
Geopolitical risk also moved commodity prices. Brent crude rose 1% to $84.40 a barrel amid Middle East tensions. Iran rejected talks with the U.S. and a deal to reopen the Strait of Hormuz stayed out of reach, keeping energy markets on edge.
Bitcoin ecosystem issues emerge
On-chain developments added complexity. A critical flaw in BTCPay Server drained merchant Lightning nodes on Friday, raising questions about payment infrastructure security. Separately, a chain split over BIP-110 produced two blocks and stalled in the past ten days, though the disagreement didn't escalate into sustained network division.
