Investing.com-- Bitcoin extended losses on Thursday, but held near a three-week high as investors looked ahead to a key U.S. inflation report for clues on the Federal Reserve’s interest rate outlook.

The world’s largest cryptocurrency fell 1.3% to $102,422.5  by 02:02 ET (06:02 GMT).

The token was supported above the crucial $100,000 level, buoyed by optimism over easing trade tensions, though lingering uncertainty kept the rally in check this week.

Bitcoin supported by easing trade tensions; US PPI awaited

Global markets saw increased risk appetite this week on easing trade tensions between the world’s two largest economies.

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

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

These developments reinforced expectations of a Federal Reserve interest rate cut this year, but caution persisted amid concerns over potential reacceleration in inflation remained amid tariff risks.

Analysts cautioned that the central bank would prioritize taming inflation and likely wait for clear signs of economic deterioration before cutting rates.

Markets turned cautious ahead of the upcoming U.S. Producer Price Index (PPI) data due later on Thursday, which is expected to offer further insight into inflation trends

Israel’s crypto trading platform valued at $5.6 bln in Nasdaq listing

Israel-based stock and cryptocurrency trading platform eToro made a strong debut on the Nasdaq on Wednesday, with shares opening at $69.69, a 34% increase from the IPO price of $52, giving the company a valuation of approximately $5.6 billion.

The company raised nearly $620 million by selling 11.9 million shares, exceeding its initial target.

Founded in 2007, eToro offers a platform for trading stocks and cryptocurrencies, with features allowing users to mimic top investors.

This comes amid growing optimism around favourable crypto regulations under Donald Trump’s administration.

Earlier this week, top U.S. cryptocurrency exchange Coinbase Global (NASDAQ: COIN ) became the first digital asset player to join the S&P 500 index.

Crypto price today: altcoins drop; Polygon, Solana lead losses

Most Altcoins dropped on Wednesday, after sharp gains earlier this week.

World no.2 crypto Ether fell 3.8% to $2,574.30.

World no. 3 crypto XRP dropped 3.6% to $2.4983.

Solana slumped 5.6%, while Cardano also slipped over 5%, and Polygon declines more than 7%.

Among meme tokens, Dogecoin plunged 5.8%, while $TRUMP fell 6.2%.