The Bitcoin price surpassed $100K after yesterday's #CPI data and #BTC ETF inflows
Bitcoin crossed $100,000 after yesterday's inflation report and BTC ETF inflows.
Fidellity's BTC ETF had the most inflows exceeding $463 million.
The crypto market gained hope on January 15 as Bitcoin crossed $100,000 again. CPI statistics, US BTC ETF inflows, and the approaching Trump government keep the sector optimistic.
Bitcoin Exceeded $100,000 January 15.
After the December 2024 CPI data, Bitcoin price rose from $96,000 to $100,000 again, as projected.
BTC is over $99,000, up 2.5% today.
BTC started rallying on January 15 after US inflation data was released.
CPI Indicates Inflation Cooling
The December Core CPI climbed 0.2%, below experts' estimates, while the YoY Core CPI fell to 3.2%. Bloomberg reported rising housing, airline, secondhand vehicle, and truck costs. Strong job market and inflation suggest the Fed will stay on hold.
Bitcoin rose on the lower-than-expected number, suggesting monetary easing.
The CPI dipped below estimates, supporting a risk-on climate and capital flows into BTC. A weakened dollar may boost BTC's attractiveness to institutional and individual investors, according to history.
Institutional investments returned to US BTC ETFs after four days of withdrawals.
BTC ETFs Received $755 Million.
After a string of outflows, US BTC ETFs saw inflows yesterday, January 15. SoSoValue data shows $755 million in crypto product inflows, led by Fidelity's BTC ETF, FBTC, at $463 million.
Grayscale's BTC ETF, GBTC, collected almost $50 million, while Btiwise's BITB took third with $32 million.
As of January 15, BTC ETFs have over $113 billion in net assets and $36.48 billion in net flow since their January 2024 start.
Crypto Markets Remain Positive
Five days before the new Trump administration takes office on January 20, Bitcoin's price increase, fuelled by Strategic BTC Reserves in additional US states, gives the crypto industry hope.
A Crypto Ball in Washington, DC, on January 17 will boost industry enthusiasm before the big event.