The global crypto market rebounded 2.5% following the stronger-than-expected CPI data.
Bitcoin climbed to the $63K zone, catalyzing rallies in various altcoins. Currently, it is trading at around $62,848.
The positive market sentiment led to surges in altcoins, with Avalanche (AVAX) rising over 10% and other major cryptocurrencies recording increases between 3% and 4%.
Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) also experienced gains, signaling a positive outlook for the market.