Bitcoin price cements $96K as 'crucial' US PPI data boosts stocks
2025-01-14
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Bitcoin BTCUSD held $96,000 at the Jan. 14 Wall Street open as US macro data boosted a BTC price comeback.
Bitcoin joins stocks in PPI confidence
Data from Cointelegraph Markets Pro and TradingView showed BTCUSD extending gains, which began hours after the pair hit two-month lows the day prior.
Up more than 2% on the day, Bitcoin cemented its rebound thanks to the December print of the US Producer Price Index (PPI) coming in below expectations.
On both monthly and annual timeframes, PPI offered both risk-asset traders and the Federal Reserve grounds for modest relief despite the overall inflation trend remaining a concern.
“A smaller increase than expected, but PPI inflation is now at its highest since February 2023. Further evidence of a rebound in inflation,” trading resource The Kobeissi Letter summarized in part of a reaction on X.
Kobeissi acknowledged the snap upturn for stocks due to the numbers but noted that PPI was only one of a series of macro data releases this week, among which would be the Consumer Price Index (CPI).
“On a more constructive note, month-over-month PPI inflation jumped 0.2%, well below expectations of 0.4%,” it added. 

Trading firm QCP Capital saw the potential for markets to adjust to a more hawkish Fed position on interest rate cuts.
“Key PPI and CPI data are on the horizon. We think potential surprises could come on the upside, as markets begin to adjust to the reality of a prolonged higher-rate environment, with some even entertaining the possibility of a rate hike,” it told Telegram channel subscribers on the day.
QCP referenced positive rumors surrounding first-day policies by US President-elect Donald Trump.
BTC price trend gets traders interested
Bitcoin traders meanwhile weighed the odds of upside continuation so soon after the first dive below $90,000 since mid-November.
“For where price currently is, market seems pretty underweight if not scared,” popular trader Skew wrote in part of the day’s X analysis.

Others were more confident, with fellow trader Crypto Chase describing the rebound as an “optimal local move.”
“If it full fills back down I don't think we're actually bullish again. Invalidated if we tag target before entry is given,” part of X commentary alongside an accompanying chart explained.
Trader and analyst Rekt Capital meanwhile flagged what he called an “exaggerated bullish divergence” involving Bitcoin’s relative strength index (RSI).
“Daily Close above $91000 secured,” he confirmed.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.