The crypto market trades bullish at the time of writing, with Bitcoin above $95,000, Ether holding at $3,333, and XRP trading above $2.15. Total crypto market cap has climbed past $3.2 trillion, marking a daily increase of more than 3% in the last 24 hours. Bitcoin led the rally following the release of U.S. December consumer price index data. Headline CPI rose 2.7% year over year, matching forecasts, while core CPI increased 2.6%, slightly below expectations, easing concerns around sudden policy tightening.
As Bitcoin pushed through $94K and $95K, short liquidations accelerated. Roughly over $408 million in short positions closed within hours, adding upward pressure as prices moved higher. Ether jumped over 7% in 24 hours, supported by rising spot volume and renewed institutional interest. XRP gained over 5% amid improving sentiment tied to regulatory clarity in the United States.
The NFT sector posted the strongest performance of the day, rising 8.34% according to SoSoValue data, signaling renewed speculative appetite across digital assets. NFT-linked tokens often respond first when traders grow more comfortable with risk, and their outperformance suggested investors felt confident enough to move beyond defensive positioning. The U.S. Senate advanced the CLARITY Act, a draft crypto market structure bill aimed at defining oversight and clearer pathways for projects. Officials signaled that clearer rules could attract institutional participation, with momentum supported as equities rally and inflation remains steady.
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