Bitcoin and Ethereum prices extend gains as US PPI inflation cools to 2.3% and retail investors are gradually making a comeback. The crypto market sentiment remained bullish despite headwinds like tariffs, as per the Crypto Market Fear & Greed Index.
The U.S. Bureau of Labor Statistics reported that PPI inflation in June remained unchanged, following an upwardly revised 0.3% rise in May and below forecasts of a 0.2% gain. The annual PPI inflation fell to 2.3%, lower than expected at 2.5% and the lowest since September 2024.
Core PPI flattened, compared to forecasts of a 0.2% rise. Also, the annual core CPI rate fell to 2.6% from 3.2%, also below expectations of 2.7%.
10x Research’s latest report revealed that retail investors took part in the Bitcoin price rally above $123,000. It was not just due to whales and institutional buying.
Moreover, CryptoQuant on-chain data indicated that retail investors are making a comeback. The 30-day change in demand for small transfer volumes moved into positive territory over the past week.
At the time of writing, Bitcoin price was trading 2% higher in the past 24 hours, with the price currently trading at $118,618. The 24-hour low and high are $115,765 and $119,298, respectively.
Meanwhile, Ethereum price jumped more than 5% in the last 24 hours, with the price exchanging hands at $3,177. The intraday low and high were $2,970 and $3,188, respectively.
Also Read: Bitcoin ETFs Record $403M in Inflows Led by BlackRock’s IBIT
