Bitcoin’s (BTC) recovery is gaining steam as the price of the largest cryptocurrency tops $22,000 U.S., its highest level since August 19 of this year.
Bitcoin is currently trading at $22,500 U.S., up more than 3% in the past 24 hours.
The price of Bitcoin has been climbing in recent days fueled by a weaker U.S. dollar and a rally in stock prices.
The latest U.S. inflation report due out today (September 13) is expected to show declining consumer prices, potential news that is being cheered by investors.
At the same time, cryptocurrency Ethereum (ETH) remains in focus ahead of its transition to a more energy-efficient blockchain, a process known as “the Merge.”
Ethereum’s transition to a new proof-of-stake protocol is expected to be completed by the end of September.
Ethereum’s price has gained 6% since the Merge began after Labour Day and is currently trading at $1,737.00 U.S.
