Bitcoin (BTC) price falls further, but holds near a three-week high after a key U.S. inflation report showed a surprising decline in April.

The world's largest cryptocurrency fell 2% to $100,980.00 by 09:51 ET (13:51 GMT).

Bitcoin fell further on Thursday, but held near a three-week high after a key U.S. inflation report showed a surprising decline in April.

The world’s largest cryptocurrency fell 2% to $101,880.0 by 09:51 ET (13:51 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.

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.

U.S. producer prices unexpectedly declined in April, driven by the sharpest drop in service costs since 2009. The producer price index (PPI) fell 0.5% last month, following a flat reading in March, which was revised up from a previously reported 0.4% decline, the Labor Department said Thursday.

Analysts had expected a 0.2% increase. On a year-over-year basis, the PPI rose 2.4%, easing from a 3.4% gain in March.

Wholesale service prices fell 0.7%, the steepest decline since records began in late 2009, as demand for air travel and hotel stays weakened.

The softer data may prompt some economists to revise down April forecasts for core PCE inflation, currently seen rising 0.2%. Core PCE was flat in March and up 2.6% annually.

Markets are pricing in a potential Federal Reserve rate cut in September, although some analysts believe a move may come later in the year.

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

The company, which went public with the ticker ETOR, 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, along with features that allow users to copy or "follow" the investment strategies of top investors.

This launch comes amid growing optimism around favorable 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.

Coinbase warned of a potential financial impact ranging from $180 million to $400 million due to a cyberattack that compromised data from a limited number of customer accounts. The news pushed its shares down 5% after the market open on Thursday.

The crypto exchange said it was contacted on May 11 by an unidentified group claiming to have accessed internal documents and customer information. While login credentials remained secure, the attackers did obtain names, addresses, and email data. Affected customers who were misled into transferring funds will be reimbursed.

Coinbase said the attackers paid external support contractors and employees outside the U.S. to extract internal data. The involved staff have been terminated.

The company declined a $20 million ransom demand and instead offered the same amount as a reward for information, adding that it is cooperating with law enforcement.

Most of the world's biggest cryptocurrency prices fell on Wednesday, continuing a rebound from a recent low. Bitcoin fell about 2% to $101,880.0 by 09:51 ET (13:51 GMT).

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

A joint statement by the U.S. and China to temporarily roll back tariffs helped calm fears of a global economic downturn, while surprising weakness in U.S. inflation data this week reduced pressure on the Federal Reserve to cut interest rates quickly.

The consumer price index (CPI) rose 0.4% in April, lagging economists' estimates of a 0.2% increase and a 0.3% rise in March. The annual rate of inflation also slowed to 4.9%, contrasting with expectations of 5