Bitcoin Hits $65K as PI Sees a Strong Price Rebound

Bitcoin surged to a three week peak of $65,000 this week after June US inflation numbers arrived lower than expected. The data showed a 3.5 percent increase, which sparked immediate buying interest across the market. While the price has since pulled back slightly to around $64,500, the move helped push the total cryptocurrency market capitalization up by more than $60 billion in a single day.

Pi Network token holders finally found some relief after a difficult few days. The asset recently hit all time lows near $0.07, but it managed to find strong support at that level. Following that drop, PI jumped 16 percent to trade back above $0.085.

Other assets are also benefiting from the positive sentiment. Ethereum is climbing toward $1,900, while tokens like ZEC and PUMP posted double digit gains. Market participants will likely watch for whether Bitcoin can hold its current position above $64,000, as traders weigh the recent inflation data against ongoing global economic uncertainty.