Tags: Federal Open Market Committee (FOMC)

(Kevin Dietsch/Staff/GrettyImages/PhotoMosh)

Bitcoin‘s bullish trend continues as it reaches a 10-month high weekly close, with obstacles still to overcome.

The CPI data shows inflation remains problematic. Crypto investors are hoping the U.S. central bank breaks from its monetary hawkishness of the past year.

Investors found comfort in banking and finance regulators’ interventions on behalf of depositors to Silicon Valley and Signature banks and grew hopeful that the Federal Reserve would not boost interest rates at its next meeting.

The largest cryptocurrency by market capitalization was recently down over 4.5 amid ongoing worries about inflation and the size of the next interest rate hike.