Last night around 9:30 PM, after the U.S. announced the Consumer Price Index, Bitcoin quickly surged from 96,000 USD to nearly 100,000 USD. By 4 AM today, it even broke through 100,000 USD, reaching a high of 100,866 USD, with an increase of 4.1%.
According to Coinglass data, the liquidation amount in 24 hours reached 355 million USD, with short positions accounting for a large portion, amounting to 226 million USD. Despite the overall poor economic situation, Bitcoin still continued to break through 100,000 USD, which has made market sentiment relatively greedy.
However, experts point out that although the market's short-term wait-and-see sentiment has been released, it has not broken through this year's high, which may indicate that the market will enter a consolidation phase. As of now, the Bitcoin price is reported at 99962 USD, with a slight correction in the past 24 hours reducing the decline to 1.84%.
Ethereum breaks through 3400 USD.
At the same time, Ethereum also briefly broke through the 3400 USD range, with a percentage increase greater than that of Bitcoin, approaching 6.7%. As of the time of writing, the price was temporarily at 3399.6 USD.
CPI data drives U.S. stocks and Bitcoin higher.
Last night at 9:30 PM, the U.S. Bureau of Labor Statistics (BLS) released the latest Consumer Price Index. In December last year, the core CPI, excluding food and energy, rose by 3.2%, below the market expectation of 3.3%; at the same time, the core CPI in December increased by 0.2% compared to the previous month, which was lower than market expectations. This is the first decline in six months, following four consecutive months of 0.3% monthly increases.
Due to the data showing a slowdown in inflation, the market reacted positively, with U.S. stocks soaring. The Dow Jones Industrial Average rose more than 700 points at one point, while the Nasdaq, which is highly correlated with Bitcoin, saw an increase of over 2.45%.
Some data show that some traders have started betting that the Federal Reserve may cut interest rates twice by 0.25 percentage points this year, which is in stark contrast to the previous pessimistic sentiment that the market generally believed there would only be one cut in 2025 or no cuts at all.