As the crypto market awaits the inflation figures from the United States, BTC reached the $61.5k level while maintaining a 56% dominance in the $2.1 trillion industry. Stronger-than-expected inflation data could be bullish for Bitcoin. Conversely, if inflation figures come in lower than anticipated, the Federal Reserve is less likely to lower interest rates in the near term, potentially leading to a bearish market reaction.
In other news, US presidential candidate Donald Trump and Elon Musk organized a Twitter space yesterday. However, there was no mention of crypto or bitcoin from these leaders who are widely seen as pro-crypto. This reaction was a bit unexpected by the market.
Lastly, the defunct exchange Mt Gox users have now started receiving back their Bitcoins stolen more than 10 years ago in their wallets. BTC and BCH worth $2 billion will be distributed to the affected users soon.
