Crypto Markets Stabilize Amid Softer Inflation Data

Leading cryptocurrencies like Bitcoin and Ethereum have steadied after some volatility, while stocks surged in response to softer inflation data. According to an analyst, indicators are 'flashing bottom signals everywhere.'

Bitcoin climbed to a high of $65,507 but hit resistance shortly after. Ethereum broke the $1,900 mark for the first time since February 3 and XRP and Dogecoin traded sideways.

The global cryptocurrency market capitalization is at $2.2 trillion, down by 0.79% over the last 24 hours. Over $300 million was liquidated from the market in that timeframe, mostly wiping out bearish short bets.

The Crypto Fear & Greed Index shows 'Extreme Fear' sentiment prevailing in the market, while retail derivative sentiment on Binance is neutral with a slight edge to buy orders.