Bitcoin prices returned to the $70,000 level as slower-than-expected U.S. inflation eased market concerns and reignited risk appetite. At press time, $BTC The price was trading at $69,725, up 1.24% from the 24-hour low.
of $BTC Prices have rebounded following the release of consumer price index data for January, which showed a 2.4% increase compared to the same month last year. As for us reportedThis was slightly lower than the expected 2.5%, the lowest level in four years. The figures led the market to believe that a rate cut could come sooner than previously expected.
BTCUSD Chart (Source: coin codex)
Monthly CPI reading was 0.2% and forecast was 0.3%. Core CPI rose 2.5% year-on-year, in line with expectations and reaching its lowest level since 2021. The data supported the idea that inflation is trending back toward the Federal Reserve’s 2% goal. Traders took the announcement as a sign that policy easing could begin in the coming months.
Interest rate-sensitive markets reacted quickly. Kalsi traders put the probability of a 25 basis point rate cut in April at 26%, up from 19% earlier in the week. At Polymarket, the probability increased from 13% to 20% after the CPI announcement. Lower interest rates tend to support the prices of risky assets, as returns on low-risk products decline.
Cryptocurrency market sentiment remains “extreme fear”
Despite returning to Bitcoin price recovery Market sentiment remains weak above $70,000. The Crypto Fear and Greed Index has remained in the “Extreme Fear” range since the beginning of the month. Current levels are similar to the numbers during the 2022 bear market and FTX collapse. The index shows that traders remain cautious even as prices recover.
Voices across the market shared their views on Bitcoin’s long-term structure. Bitcoin supporter Robert Kiyosaki I wrote“By design, Bitcoin is limited to 21 million…Once 21 million is mined, no more Bitcoin can be added.” He said this fixed supply supports a long-term bullish situation. He added that the supply of gold could increase if the price rises, but Bitcoin cannot do that.
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Cryptocurrency analyst Manpreet Kairon says of the long-term trend line: $BTC Since it has suppressed the peaks of major cycles since 2017, the price chart was formed as Bitcoin’s “last boss” after the recovery. According to analysts, the 200-week simple moving average remains an important support level. Therefore, weekly closes below that line may indicate larger structural changes in the economy. $BTC price.
trader weighing $BTC Price breakout or retest scenario
The short-term market structure of Bitcoin prices also attracted the attention of analysts. According to CoinCodex, Bitcoin price has broken above $69,000 and is testing the pressure zone again. and $BTC If the price regained the $70,000 to $72,000 area, Bitcoin would have exceeded Michael Saylor’s average purchase price.
Coinpaper’s recent Michael Saylor-led strategy reportcurrently holding over 713,502 items $BTC. This makes the company the largest corporate holder of Bitcoin. however, $BTC If the price fails to break further above, it could return to the $64,000 to $66,000 range.
Bitcoin’s two-week chart still shows a repeating structure, according to cryptocurrency analyst Trader Tardigrade. He said the 2022-2023 cycle and the current 2025-2026 cycle have seen “bear flags and subsequent recovery curves.” therefore, $BTC Prices have recovered above $70,000, but analysts say a rise above $80,000 could be imminent. Supporting this prediction, the Bitcoin price is forming an “Adam and Eve” structure. According to analysts, above $72,000 could push the asset closer to the $80,000 area.
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However, in spite of $BTC In order to recover prices, the Royal Government of Bhutan is sold 385 $BTC worth $29 million in the past two weeks. But there are still 5,600 people in this country $BTCworth approximately $374 million.
