Cryptocurrency markets recovered on January 14, 2025, with Bitcoin rising to about $97,300 following a selloff. This recovery occurred in response to softer U.S. Producer Price Index (PPI) data. Notably, altcoins like Ripple's XRP and Dogecoin outperformed Bitcoin, achieving gains of 6-7%, while the broader CoinDesk 20 Index rose 5%. Bitcoin’s upward movement came after it briefly dipped below $90,000. Market participants are now closely watching the upcoming Consumer Price Index (CPI) report, which may impact Federal Reserve policy decisions and provoke market volatility. Additionally, Donald Trump's inauguration on January 20 may further influence crypto prices due to expectations of pro-crypto policies. K33 Research projected that the inauguration could be a sell-the-news event, although recent market trends have led them to reassess this view. Their analysis suggests that unless significant momentum develops over the next week, selling Bitcoin during the inauguration may not be appealing. Overall, traders are cautiously optimistic while monitoring key economic indicators and political events that could shape the crypto landscape.

Source 🔗