Zinger Key Points
- A crypto trader suggests that cooler-than-expected CPI data could push asset prices higher, though its sustainability is uncertain.
- Bitcoin faces resistance at $98,000, while on-chain data highlights a major accumulation level just above the current price.
- Get 5 New Stock Recommendations Every Week
Bitcoin BTC/USD is eyeing a march toward the $100,000 mark following CPI data that aligned with market expectations.
What Happened: The report has rekindled optimism across markets, with the S&P 500 index – as tracked by the SPDR S&P 500 ETF Trust SPY – gaining 1.7%.
Major cryptocurrencies have surged across the board:
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $99,251.48 | +2.6% |
| Ethereum ETH/USD | $3,304.57 | +3.1% |
| Solana SOL/USD | $194.45 | +4% |
| XRP XRP/USD | $2.97 | +15.4% |
| Dogecoin DOGE/USD | $0.367 | +4.6% |
| Shiba Inu SHIB/USD | $0.00002198 | +2.4% |
Trader Notes: Lark Davis, a Bitcoin investor and entrepreneur, noted that Bitcoin “is loving” the macroeconomic data released.
Prominent technical analyst Kevin observed that the cooler CPI figures reduced yields and the dollar's strength, boosting asset prices.
He remains cautious about whether this trend can be sustained.
Economist Robin Brooks commented on the benign core CPI reading for December, with underlying inflation trending at 0.25% month-over-month.
He expects a temporary uptick in Q1 2025 due to seasonal price resets, echoing patterns seen in early 2023 and 2024.
What's Next: Crypto trader Jelle now marks $97,000 turning into support and with prices pushing towards $100,000 he concluded "Break that, and all bets are off."
Glassnode data highlighted that the BTC price action validated two key levels flagged by on-chain data.
It sees support at $89,000 which aligns with Short-Term Holder Realized Price ($88,500).
Resistance is below $98,000 which is largest accumulation level above spot.
As Bitcoin inches closer to the psychological $100,000 barrier, the market remains divided on whether the rally will be sustained.
Read Next:
Image: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
