The world's leading cryptocurrencies rebounded on Wednesday, a day after the release of a US inflation report that came in hotter than expected.
Before yesterday's US CPI data release, the Bitcoin (BTC) price had reached $50,358 during the day but fell below the $49,000 level after the report's publication. In addition, significant altcoins such as XRP, Solana (SOL), and Cardano (ADA) saw declines in the market.
At 4:04 am ET today, BTC surged 2.08%, selling for $50,763, while Ethereum (ETH) rose 2.84% to go for $2,716 simultaneously.
