Bitcoin (BTC) climbed above the $65,000 threshold on Wednesday, trading at $65,275 as investors reacted to fresh US inflation data that came in below market expectations.
The 2% intraday gain marks a decisive shift in momentum for the digital asset, which had recently struggled to hold ground above lower support levels.
This repricing follows a period of volatility where Bitcoin tested the $58,000 support level amid intense selling pressure earlier in the week.
The price action underscores the continued sensitivity of crypto markets to US macroeconomic indicators.
With inflation pressures easing more than anticipated, the immediate case for aggressive monetary tightening has weakened, providing tailwinds for risk-on assets.
This repricing follows a period of volatility where Bitcoin tested the $58,000 support level amid intense selling pressure earlier in the week.
The rebound from those recent lows signals a restoration of buyer confidence.