After the release of the US Producer Price Index (PPI) data, Bitcoin rebounded above $96,000, with a 2.5% increase in the past 24 hours, while mainstream altcoins such as XRP and DOGE rose by 6%-7%.
The US PPI for December rose only 0.2% month-on-month, lower than expected and last month's data, indicating that the cooling of the PPI is a positive signal for the Federal Reserve's next actions. Previously, The Washington Post reported that an executive order related to cryptocurrency would be issued after Trump took office to address the issue of 'de-banking' and repeal the SAB 121 policy, which led to an increase in the cryptocurrency market.
Derivatives market data shows that the volatility of cryptocurrencies such as Bitcoin will continue to rise. The market is optimistic about the Bitcoin options expiration date on January 24.
Some institutions have stated that inflation data lower than expected could trigger a rise in Bitcoin. Standard Chartered believes that if Bitcoin falls below $90,000, it presents a mid-term buying opportunity, reaffirming the target of $200,000 by the end of 2025.