Crypto market edges higher as Bitcoin tops $83,600

Major digital assets posted modest gains over the past 24 hours across global cryptocurrency platforms. Data from CoinMarketCap showed Bitcoin advancing 0.40% on the day to trade at $83,630.04. While the leading token dipped 0.41% over the past seven days, it maintains a 6.24% gain on a 30-day basis. Leading altcoins also tracked upward: Ethereum climbed 0.66% to $2,689.56, Zcash added 1.13% to reach $1,422.53, and BNB advanced 1.10% to $768.54, alongside increases in Monero (1.12%), Bitcoin Cash (0.71%), and Bittensor (1.76%). The broader CoinMarketCap 20 Index rose 0.41% to 174.07 points.

Conversely, gold-backed tokens trended lower, with PAX Gold (PAXG) and Tether Gold (XAUT) each retreating 0.23% to $4,174.11 and $4,166.33, respectively. Market analysts attribute the broader crypto resilience to softer-than-expected US inflation data, which dampened expectations for further rate hikes; however, persistently elevated US Treasury yields and localized profit-taking continue to cap broader upward momentum for Bitcoin.

N.Tebrizli