Bitcoin price has recovered to $95,000 after about two months. Ethereum also surged nearly 8%, and other leading cryptocurrencies moved higher. Bitcoin was trading at $95,398, up 4.66% from 24 hours earlier. Bitcoin topping $95,000 marked its first breach since November last year.
Ethereum was up about 7.69% at $3,334 at the same time. Ripple rose 5.69% to $2.16, and Binance Coin gained 5.13% to $950, with other major altcoins also showing strength. The rally in crypto prices is seen as driven by easing CPI and growing prospects for rate cuts. December CPI rose 0.3% from the previous month and 2.7% from a year earlier, in line with expectations.
By contrast, the core CPI, excluding food and energy, rose 0.2% month-on-month and 2.6% year-on-year, below expectations. Signs of inflation cooling have boosted expectations for Fed rate cuts, reinforcing risk-on sentiment in the market. Bitcoin reclaimed the $95,000 level, trading at $95,398, up 4.66% from the previous session. Ethereum rose about 7.69% to $3,334, while Ripple advanced to $2.16 (+5.69%) and Binance Coin reached $950 (+5.13%), signaling a broad market move higher.
The move comes as inflation data softens, with December CPI up 0.3% month-on-month and 2.7% year-on-year, in line with expectations. Excluding food and energy, core CPI rose 0.2% month-on-month and 2.6% year-on-year, below forecasts, fueling bets on potential Fed rate cuts and lifting risk appetite across crypto assets. Analysts say the inflation cooling reinforces the case for policy easing, supporting a continued crypto rally. Traders will monitor upcoming data and Federal Reserve signals as they weigh the resilience of this rally and the path of inflation.
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