Bitcoin Hits $123K, Ethereum Surges Past $4,500 on Inflation Data

Cryptocurrencies experienced a significant rally following the release of U.S. inflation data that met expectations. Bitcoin topped a new all-time high at $123,231, while Ethereum surged past $4,500 and Binance Coin (BNB) reached $830 as investors anticipated a potential easing of monetary policy by the Federal Reserve. This rally was attributed to increased investor confidence driven by stable inflation rates and growing expectations for rate cuts in September.