Bitcoin staged a notable recovery Friday, reclaiming the $69,000 level following the release of U.S. inflation data, which came in cooler than economists anticipated. After a period of sustained pressure where the top cryptocurrency dipped below $66,000 for two consecutive sessions, it surged from an intraday low of $65,670 to $69,405. This move represented a swift 5% rally in less than 24 hours.

While the asset eventually consolidated just under the $69,000 mark, the push added roughly $70 billion to its market capitalization, lifting it from $1.31 trillion to approximately $1.38 trillion.

The catalyst for the broad-based rally was the Consumer Price Index (CPI), which fell to 2.4%—edging out the 2.5% projected by analysts. This disinflationary signal echoed across the digital asset economy. Most major tokens posted gains between 2% and 5% while bitcoin cash ( BCH) led the charge among large caps, jumping 8%. The aggregate crypto market capitalization swelled by nearly 4%, reaching $2.42 trillion.

The cooling inflation will bolster U.S. President Donald Trump’s increasingly vocal calls for aggressive interest rate cuts. This puts additional pressure on the Federal Reserve and Chairman Jerome Powell, who have maintained a hawkish, wait-and-see posture. Furthermore, the data appear to challenge the prevailing economic consensus that the administration’s reciprocal tariffs would inevitably lead to an inflationary spike.

U.S. equities mirrored the crypto market’s enthusiasm, though the gains proved fleeting for some. The Nasdaq surged nearly 200 points to an intraday high of 22,680 before a mid-session reversal erased those gains; however, it remains resilient above 22,600. The S&P 500 edged up 0.5%, while the Dow Jones Industrial Average climbed 170 points to 49,620. Despite the bounce, the Dow remains on track to finish the week significantly lower than its Tuesday peak of 50,500.

Meanwhile, the sudden upward volatility caught bears off guard, triggering over $170 million in short-position liquidations within 4 hours. Bitcoin led the carnage, with $92 million in wiped-out shorts, followed by ether at $48 million.

Despite this relief rally, broader market sentiment remains remarkably fragile. The Crypto Fear and Greed Index is currently pegged at 8, firmly within the “extreme fear” zone, suggesting that investors remain skeptical of the rally’s longevity.

• Why did bitcoin rally? Cooler‑than‑expected U.S. inflation data at 2.4% sparked a swift rebound.
• How big was the move? Bitcoin surged 5% in under 24 hours, adding about $70B to market cap.
• What was the global impact? Major tokens gained 2–5%, BCH jumped 8%, and total crypto value hit $2.42 trillion.
• What does sentiment show? Despite gains, the Fear & Greed Index sits at 8, signaling extreme caution.

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