Crypto analysts are increasingly optimistic as favorable U.S. inflation data has driven Bitcoin higher, with the price surging by approximately 3% amid growing anticipation of further interest rate cuts. On January 15, the U.S. Consumer Price Index (CPI) report revealed lower-than-expected core inflation for December, sparking a rally in Bitcoin’s spot price from around $96,000 to nearly $100,000. This bullish momentum extended to other markets as well, with stocks and gold posting significant gains. Futures markets now estimate a 30% probability that the Federal Reserve will cut interest rates in March, fueling optimism among investors and reinforcing positive sentiment across the crypto sector.
ETH-USDT Daily Chart:
ETH has a strong resistance at $3,500 and $3,750. If it breaks and sustains above these levels, then we can expect the prices to further rally up to $4,000.
BTC-USDT Daily Chart:
BTC made a ‘Doji’ candle at the top of $108,353 which indicated indecision in trend and witnessed profit booking. The asset has a strong support zone from $90,000 to $85,000 whereas $105,000 and $108,000 will act as strong resistance.
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