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Market Wrap: Bitcoin Rises on Encouraging Inflation News

The largest cryptocurrency hovered near $16.8K. Ether and other altcoins also surge.

Bitcoin rose slightly after the producer price index was lower than expected, suggesting that inflation is waning. (Midjourney/CoinDesk)
Bitcoin rose slightly after the producer price index was lower than expected, suggesting that inflation is waning. (Midjourney/CoinDesk)