Bitcoin hits $65,500 as surprise US PPI data drives three-week high

Bitcoin climbed to $65,500 on July 11, its highest price since June 22, after US Producer Price Index (PPI) inflation data came in as the week's second surprising macro reading. The softer-than-expected figures fuelled hopes of a less hawkish Federal Reserve, boosting risk assets including BTC. The move marks a three-week high for the world's largest cryptocurrency.