On January 15, the crypto market witnessed a positive shift as Bitcoin climbed above the significant psychological level of $100,000. This was driven by the CPI data release and renewed investment inflows in US BTC ETFs.
Bitcoin Surpassed $100,000 After CPI Report
Bitcoin price surged past $100,000 following the release of the December 2024 Consumer Price Index (CPI) report. At the time of writing, BTC is trading above $99,000, up over 2.5% today.
CPI Data Signaled Cooling Inflation
The Core CPI rose by 0.2% in December, below economists' expectations, with the YoY Core CPI easing to 3.2%. This lower-than-expected inflation reading boosted Bitcoin prices, indicating support for a risk-on environment.
BTC ETFs Recorded $755 Million Inflows
On January 15, US BTC ETFs saw over $755 million in inflows, with Fidelity’s BTC ETF leading with over $463 million, according to SoSoValue data.
Bitcoin's latest price rally brings optimism to the crypto market, maintaining heightened interest ahead of key upcoming events such as the change in US administration.