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Crypto market recap: Bitcoin and Ethereum rise ahead of key CPI data
Bitcoin extended its cautious rebound on Thursday, climbing as investors awaited fresh inflation figures that could sway risk sentiment across global markets.
The world’s largest cryptocurrency rose 1.3% over the past 24 hours to around $111,000, while Ethereum gained 1.2% to $3,940, as traders positioned themselves ahead of the U.S. Consumer Price Index (CPI) report for September.
Key figures
- BTC: $111,000 (+1.3% in 24h)
- ETH: $3,938 (+1.2% in 24h)
- Fear & Greed Index: 32 (up from 29)
- CPI forecast: +0.4% MoM, +3.1% YoY
- Shutdown length: 24 days
Markets regain modest momentum
After weeks of subdued trading and profit-taking by long-term holders, digital assets are showing tentative signs of recovery. Analysts at CryptoQuant and Glassnode noted that while some veteran investors continue to sell into strength, derivatives data suggest a more balanced market tone, with traders cautiously reopening long positions.
The CPI report—delayed due to a 24-day U.S. government shutdown—is due at 8:30 a.m. ET. Economists expect a 0.4% month-over-month increase and 3.1% year-over-year inflation, marking the first time this year inflation could breach the 3% level. A higher-than-expected print may rekindle concerns about prolonged tight monetary policy, while a softer figure could bolster appetite for risk assets, including crypto.
Sentiment improves slightly but caution persists
The Crypto Fear and Greed Index rose to 32, up from 29 a week earlier, signaling a mild improvement in sentiment but still reflecting overall market apprehension. Traders remain wary of potential volatility around the inflation data and are hedging exposure through options and futures.
Ash Crypto outlined the CPI release “could shape everything from interest rate expectations to risk-on assets like stocks and crypto.” Despite Thursday’s gains, analysts caution that the market’s resilience will depend heavily on how inflation data shape expectations for future Federal Reserve policy.
Outlook: Inflation data in focus
While Bitcoin and Ethereum have regained modest upward momentum, broader sentiment remains fragile. The next 24 hours could prove pivotal in determining whether this rebound develops into a sustained rally—or fades under renewed macroeconomic pressure.
In addition, we wrote that Bitcoin rises 1.97% after $5.1B options set for 2025 expiry shake up market.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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