Bitcoin and Ether Hold Steady Before Pivotal U.S. Inflation Report: Crypto Markets Today

In the ever-shifting world of crypto markets, are showing little movement as traders wait for the big . Right now, Bitcoin sits at around $68,877, after touching $67,000 early Friday. It has gained about 1% since midnight UTC. Ether, at $2,049, is up by half that amount. This calm comes after a rough drop yesterday, but the market feels a bit positive, especially in derivatives trading.

Current Market Snapshot: A Quiet Recovery

The is up just 0.7% over the same time. This small gain helps recover from yesterday’s U.S. trading session, where crypto prices fell back to last week’s lows. But do not get too excited yet. Bitcoin is still heading for its fourth week in a row of losses. That is the longest down streak since mid-November.

Trading has slowed down, and volatility is fading. This means lower volumes across exchanges. Traders seem to be on the sidelines, eyes fixed on today’s key data release.

• Bitcoin (BTC): +1% today, testing $67K level
• Ether (ETH): +0.5%, steady at $2,049
• Overall Market: Derivatives show bullish signs

Why the U.S. CPI Report Matters for Crypto

The report drops later today. CPI measures inflation by tracking price changes for everyday goods and services. It is a big deal for all markets, including crypto.

If CPI comes in higher than expected, bond yields could rise. The U.S. dollar might get stronger too. This often hurts risk assets like Bitcoin and Ether, as investors pull back to safer options.

On the flip side, a lower-than-expected CPI could spark joy. It might mean the Federal Reserve keeps interest rates low or cuts them soon. Easier money conditions boost risk-taking, sending crypto prices higher.

Markets expect CPI to show cooling inflation, but any surprise could swing prices fast. Remember past events? Hot CPI data in 2022 crushed crypto rallies. Cooler prints in 2023 fueled big gains.

Bitcoin’s Path to Recovery: The $85,000 Milestone

Even with today’s calm, Bitcoin needs a strong push to break out. Experts say hitting $85,000 would prove its long-term rally is back on track. Jean-David Péquignot, chief commercial officer at Deribit, a top crypto derivatives platform, called this level key. Below it, the bull case looks “broken.”

Bitcoin has lost ground over four weeks. Factors include profit-taking after the recent halving, regulatory worries, and macro pressures. But on-chain data shows whales accumulating, and ETF inflows remain solid.

Exciting News: Truth Social Files for Crypto ETFs

In other big , Trump-linked Truth Social is pushing deeper into digital assets. The platform filed with the SEC for two exchange-traded funds (ETFs):

1. Bitcoin and Ether ETF: Spot exposure to the top two cryptos.
2. Cronos Staking ETF: Focuses on Cronos, the blockchain from Crypto.com, with staking rewards.

This move expands Truth Social’s brand beyond social media into investing. With Trump ties, it could draw political and retail interest. If approved, these ETFs would join the growing list of crypto products, like BlackRock’s Bitcoin ETF.

Staking ETFs are new. They let investors earn yields without managing nodes. Cronos offers fast, low-cost transactions, making it appealing for DeFi users.

Broader Crypto Market Trends

Beyond BTC and ETH, altcoins are mixed. Solana and other layer-1s hold gains, while meme coins cool off. Total market cap hovers near $2.4 trillion, stable but range-bound.

Derivatives markets hint at optimism. Open interest rises, and funding rates turn positive. This suggests longs are building positions ahead of CPI.

What to Watch Next in Crypto Markets

Post-CPI, keep an eye on:

• Fed speeches next week
• Bitcoin ETF flows
• SEC decisions on more ETFs, like Truth Social’s
• Technical levels: BTC support at $65K, resistance at $70K

Volatility could spike after the report. Use stop-losses and stay informed.

Final Thoughts

The setup shows caution rules the day. A soft CPI could ignite the next leg up toward $85K. Meanwhile, ETF filings like Truth Social’s signal growing mainstream adoption. Crypto remains volatile, but opportunities abound for patient investors.

Stay tuned for live updates as the CPI data hits. What do you think it will show? Share in the comments below!