- Bitcoin climbed 1.5% to surpass $115,000, touching a high of $116,317 amid macro optimism.
- U.S. CPI data softened, boosting bets on Federal Reserve rate cuts and lifting crypto sentiment.
- BTC ETF inflows reached $552.7 million yesterday, signaling sustained institutional interest.
Bitcoin (BTC) pushed past $115,000 on Friday, gaining 1.5% over the past 24 hours to trade at $115,255 as of 11 a.m. ET. The rally follows softer-than-expected U.S. inflation data, reigniting speculation around imminent Federal Reserve rate cuts.
According to CoinMarketCap, BTC hit an intraday peak of $116,317 before a minor pullback, with trading volume exceeding $50 billion in the session. This marks the cryptocurrency’s fourth all-time high this year, underscoring resilient bull market dynamics despite broader economic uncertainties.
Institutional conviction remains a key driver, as spot Bitcoin ETFs recorded $552.7 million in inflows on Thursday, per recent filings. Ethereum ETFs added $113 million, pushing combined crypto ETF flows near $930 million for the week. Such capital rotation highlights growing mainstream adoption, though analysts caution on volatility tied to upcoming policy signals.
A notable on-chain event amplified the buzz: a Bitcoin whale, dormant for nearly 13 years, transferred funds worth millions, prompting theories of strategic repositioning by early holders. “Bitcoin ripped through $115K on the back of softer CPI data, fueling rate cut optimism,” observed crypto analyst LORD ATU on X. He emphasized that ETF metrics reflect “real institutional appetite,” but warned of divergence in on-chain signals like lagging wallet growth.
From a technical standpoint, $116,000 looms as immediate resistance, with the 50-day moving average providing support around $112,000. Cointelegraph analysts project potential upside for BTC to $120,000 if CPI confirms cooling inflation next week, but a failure to hold gains could trigger profit-taking and liquidations nearing $355 million at current levels.
Broader market tailwinds include regulatory progress, as the SEC’s “Project Crypto” initiative signals clearer frameworks for stablecoins and tokenization. This aligns with altcoin rotation, where Dogecoin rallied 6% ahead of its ETF debut, though BTC dominance holds at 54%.
Risks persist, including geopolitical tensions and overleveraged positions. Traders should monitor Fed Chair Powell’s Jackson Hole remarks for dovish tones, which could extend the rally—or expose downside if expectations falter.
For related reading on crypto momentum, see Regulatory Boost and Altcoin Speculation Drive Crypto Momentum.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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