Investing.com-- Bitcoin rebounded on Wednesday after softer-than-expected U.S. inflation data bolstered Federal Reserve rate-cut bets, while a temporary U.S.-China trade truce further provided support.

The world’s largest cryptocurrency rose 1.3% to $103,862.5 by 02:16 ET (06:16 GMT).

The token saw sharp gains last week as it blew past the coveted $100k level on optimism around easing trade tensions, but lost steam in the last few sessions amid profit-taking.

Soft US CPI sparks Fed rate cut bets

U.S. consumer price index data released Tuesday came in below expectations, easing concerns over the inflationary effects of trade tariffs.

Separately, a joint statement on Monday by the U.S. and China to temporarily roll back tariffs helped calm fears of a global economic downturn.

The U.S. will reduce its tariff on Beijing from 145% to 30%, while China will lower its retaliatory tariff from 125% to 10%, both for 90 days.

While these developments may give the Federal Reserve more room to adjust interest rates, concerns over potential reacceleration in inflation remained amid tariff risks.

Analysts cautioned that the central bank would likely wait for clear signs of economic deterioration before cutting rates, prioritizing its inflation-fighting credibility over short-term economic support.

Bitcoin and major altcoins registered mild gains as traders grew optimistic that the Fed might eventually have room to ease interest rates.

Israel’s eToro aims to raise $620 mln in Nasdaq debut

Israel-based stock and cryptocurrency trading platform eToro Group is set to raise approximately $620 million in an upsized U.S. initial public offering, pricing 11.92 million shares at $52 each, above the initial target range of $46 to $50.

The shares are scheduled to begin trading on the Nasdaq Global Select Market on May 14.

This offering, comprising equal parts new and existing shares, values the company at around $4.3 billion.

Crypto price today: altcoins surge; Ether jumps 9%, Solana 7%

Most Altcoins jumped on Wednesday, with much sharper gains than Bitcoin, as the economic outlook improved.

World no.2 crypto Ether surged 8.7% to $2,667.30.

World no. 3 crypto XRP rose 3.6% to $2.5869.

Solana jumped 7%, while Cardano advanced 4.8%, and Polygon added 6%..

Among meme tokens, Dogecoin surged 9.5%, while $TRUMP rose 8.4%.