Analysis: US CPI Below Expectations, Bitcoin Rebounds to $69K, Rate Cut Expectations Still Low

BlockBeats News, February 13th. After the U.S. January CPI data came in below market expectations, Bitcoin experienced a short-term rally breaking through the $69,000 mark, rising by about 4% to reach $69,190 at one point.

Data released by the U.S. Bureau of Labor Statistics showed that the year-on-year core CPI in January increased by 2.5%, meeting expectations; the overall CPI increased by 2.4% year-on-year, 0.1 percentage point lower than expected, hitting a multi-year low. The cooling of inflation boosted market sentiment, with cryptocurrency assets being one of the standout risk assets of the day.

However, the interest rate market remains cautious about betting on a rate cut at the Fed's March meeting. According to data from the CME FedWatch tool, the probability of a 25 basis point rate cut in March is still less than 10%, indicating that the market has not yet formed a clear easing expectation.

On the chart, the $68,000 to $69,000 range is seen as a key resistance area, both near the 2021 all-time high and where the 200-week moving average is located. Some traders believe that if this range can be firmly held, Bitcoin may form a "higher low" structure, but overall sentiment remains cautious.