Bitcoin highest for month, above $66,000

Bitcoin finished the regular trading week on the front foot, rising above $66,000 despite the downturn in global stock markets.

It comes amid softer US inflation figures and reports of significant continued institutional interest in bitcoin ETFs.

On Saturday morning, Bitcoin was up 1.3% for the past 24 hours with the price marked at $66,985.

Last night, trading above $67,250, the leading cryptocurrency was at its highest level for nearly a month.

Elsewhere in crypto, Ethereum was 2.5% higher on Saturday morning at $3,112.

Solana similarly rose 2.4% to $172.96, whilst Dogecoin added 1.76% to 15.54 cent.

Cardano’s ADA token was 0.6% higher at 48.23 cents, and, Ripple’s XRP token was up 0.7% at 52.42.

Chainlink was down 0.6%, marked at $16.31.

Earlier this week, Chainlink was boosted by some 18% after a successful pilot project with major US financial institutions.

In the broader markets, global equities faced a pullback after the Dow Jones earlier this week hit a new high – reaching 40,000 for the first time – and European and Asian stocks also ended their weeks on the back foot driven by economic concerns in China.

Crypto-watchers, meanwhile, highlight that despite the stock market downturn at the week’s end, the crypto market kept its upward momentum.

Bitcoin and other cryptocurrencies showed resilience, maintaining their gains, at the same time as Wall Street stocks broadly traded down at the tail end of the week.