Bitcoin tops $25,000 for first time since June amid crypto rally

Bitcoin briefly surpassed $25,000 for the first time since mid-June, as momentum continued from a cooler-than-expected US inflation data and progress toward Ethereum’s big upgrade.

The largest cryptocurrency rose as much as 2.2% on Sunday to $25,031, its highest level since June 13. It was trading around $24,750 as of 6 a.m. New York time, rising a fifth straight day in a streak fueled by US consumer-price index data that came in below expectations. Ether gained as much as 2% to $2,030.50, having surpassed $2,000 on Saturday for the first time since May 31 amid optimism about completion of its blockchain’s much-anticipated software upgrade known as the Merge.