Bitcoin Rebounds Post-CPI Volatility as BNB Surges Past $700 (Market Update)

Bitcoin swiftly recovered from a brief dip triggered by higher-than-expected U.S. inflation data, briefly reclaiming $98,000 before stabilizing near $96,000. Meanwhile, Binance Coin (BNB) led gains among major altcoins, soaring 9.5% to break the $700 barrier, while Sui (SUI) and Hyperliquid (HYPE) also posted notable  advances.
Rollercoaster Week for Bitcoin 

BTC endured significant volatility over the past week, swinging by $10,000 in both directions before consolidating between $96,000 and $98,000. A brief spike to $100,000 on Friday was met with rejection, pushing prices back to the lower end of the range. The U.S. Consumer Price Index (CPI) report on Wednesday intensified fluctuations, revealing inflation figures exceeding forecasts. Bitcoin initially plunged to $94,000 within minutes but rebounded sharply, climbing to $98,000 during Asian trading hours Thursday. However, resistance at this level persisted, leaving BTC hovering just above $96,000 at press time. Despite the turbulence, Bitcoin’s market cap remains above $1.9 trillion, though its dominance has dipped to 57.6% as altcoins gain momentum.

Altcoins Rally as ETH Stumbles

BNB stole the spotlight, surging past $700 amid growing activity on the BNB Chain ecosystem. SUI and Hyperliquid (HYPE) followed closely, each rising 8% to $3.50 and $25, respectively. Ethereum initially rallied to $2,700 after CBOE filed for a spot staked ETH ETF with 21Shares, signaling institutional interest in staking derivatives. However, ETH failed to sustain gains, slipping back below $2,700. Other major altcoins, including XRP, Dogecoin, Cardano, Chainlink, Avalanche, and Stellar, posted modest daily gains.

Meme coins also saw renewed traction, with assets like Dogwifhat (WIF) and Pepe (PEPE) climbing double digits. Despite the mixed performance, the global crypto market cap held steady at $3.3 trillion, reflecting cautious optimism as traders await further macroeconomic cues and regulatory developments.

Bitcoin’s resilience post-CPI and BNB’s breakout underscore shifting investor focus toward altcoins, though broader market stability hinges on Bitcoin’s ability to reclaim key resistance levels in the days ahead.

Make money without lifting your fingers: Start using a world-class auto trading solution.

EightCap, your trusted Partner in CFDs, Cryptocurrencies and Stocks.