On the back of the positive U.S. personal consumption expenditures (PCE) price index released over the weekend, cryptocurrency prices are rising across the board.
As of 8:50 a.m. on the 29th, on CoinMarketCap, a global cryptocurrency market site, Bitcoin is trading at $112,224, up 2.3% from 24 hours earlier. Ethereum is $4,141, up 2.97% from 24 hours earlier, and Ripple (XRP) is $2.86, up 1.98%.
Cryptocurrencies also posted gains across the board over the weekend, albeit modest. The PCE released over the weekend matched market expectations, fueling hopes for two interest rate cuts within the year.
Accordingly, U.S. stocks also rose across the board, with the Dow up 0.65%, and cryptocurrencies all advanced as well.
※ This article has been translated by AI. Share your feedback here.