As of 11:57 AM IST, Bitcoin was trading 2.3% higher at $65,438, while Ethereum rose 2.8% to $2,603.
This upward momentum was supported by favourable global cues. Oil prices fell about 3% in early trading after Israeli Prime Minister Benjamin Netanyahu reportedly informed the United States that Israel is willing to target Iranian military installations, easing immediate concerns about supply disruptions. The decline in oil prices is considered beneficial for inflationary pressures.
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Meanwhile, unchanged US producer prices for September, where a slight increase in service costs was counterbalanced by lower prices for goods, also worked in favour. This data points to a favourable inflation outlook and strengthens expectations for a potential interest…
