Ether, Dogecoin Lead Modest Market Gains, Bitcoin Holds $118K as CPI Print Fuels Rate Cut Bets
2025-07-16 06:44:09
Main Idea
Cryptocurrency markets showed modest gains with Bitcoin holding steady at $118K amid positive CPI data, while institutional inflows into U.S. spot Bitcoin ETFs remained strong.
Key Points
1. Bitcoin hovered near $118,000 as June’s U.S. CPI data signaled disinflation, increasing expectations of a Fed rate cut.
2. U.S. spot Bitcoin ETFs recorded their ninth consecutive day of net inflows, totaling $403 million, with BlackRock’s IBIT alone adding $416 million.
3. Ether (ETH) rebounded to $3,100, reinforcing its role as a base layer for tokenized dollars, while Dogecoin (DOGE) rose 2.7% daily.
4. Core CPI rose 0.1% month-over-month for the fifth straight time, boosting bullish sentiment in crypto markets.
5. Spot ether (ETH) ETFs saw $192 million in inflows, marking their eighth consecutive day of gains.
Description
Bitcoin (BTC) hovered near $118,000 during the Asian trading hours on Wednesday, consolidating gains after June’s U.S. CPI data signaled further disinflation, pushing traders to reprice odds of a September Fed rate cut. Core CPI rose just 0.1% month-over-month for the fifth straight time, fanning bullish sentiment across crypto markets despite broader equity weakness. “The data was bullish for crypto, as the Fed may be more likely to cut interest rates in September, potentially triggering more c...
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