Bitcoin hit $99K, altcoins soared as lower core CPI fueled Fed rate cut hopes, but inflation risks still linger.
Bitcoin smashed through $99K for the first time since Jan 7, climbing 10% from its monthly low. This crypto glow-up wasn’t just Bitcoin flexing—altcoins joined the party too. Virtuals Protocol skyrocketed by 25%, ai16z surged 17%, and Algorand jumped over 13%.
But the hype isn’t limited to crypto. Wall Street got its own glow-up: Dow Jones futures popped 700 points, S&P 500 futures climbed nearly 100 points, and bond yields dipped. The 10-year, 30-year, and 5-year yields are now chillin’ at 4.66%, 4.90%, and 4.48%.
What’s the tea? U.S. core inflation dropped from 0.3% to 0.2% last month, and yearly, it’s down from 3.3% to 3.2%. This got everyone hoping for juicy Fed rate cuts—maybe more than two this year. Core CPI is a big deal since it skips food and energy prices and is the Fed’s main squeeze.
Still, it’s not all sunshine. Inflation is above the Fed’s 2% goal, and some wildcards could stir the pot—like LA fires pushing up costs or Trump-era policies hiking inflation.
TL;DR: Crypto’s thriving, markets are vibing, but keep an eye on inflation drama—it’s far from over.
Also Read: BlackRock Unveils Bitcoin ETF for Canadian Investors