Crypto traders are stepping carefully ahead of the January CPI data release on Feb. 13. Inflation readings have repeatedly moved markets in recent months, and cryptocurrencies are no exception.
With analysts expecting a moderate uptick in prices, the mood is cautious — because it wouldn’t take much of a deviation to spark volatility across the board.
Summary
- CPI for January is expected to rise 0.3% month over month. Bitcoin is trading around $68,150, with support at $66,000 and resistance near $70,000.
- Ethereum is hovering near $1,990, holding support at $1,850. A move above $2,000–$2,100 could strengthen bullish momentum, while a drop below $1,850 would expose downside risk.
- Ripple is trading around $1.40, supported at $1.35, with potential upside to $1.60 and downside to $1.28, depending on investor reaction to inflation data.
CPI data in focus
CPI for January is projected to rise 0.3% month over month, possibly bringing annual inflation down to 2.5%. Even with this moderate slowdown, markets remain alert, as inflation readings heavily influence Fed policy.
Crypto, being a risk-on asset class, reacts to these shifts. A hotter-than-expected CPI could push back rate cuts, strengthen the dollar, and weigh on crypto prices, with the CPI report around the corner.
The Bitcoin price finds near-term support at $66,000. Drop below it, and the market could slide toward $64,000, with $60,000 waiting as a potential catch zone for long-term buyers if momentum turns sharply bearish.
Looking higher, $70,000 stands as the first real test, having capped earlier rallies. A successful break could push the Bitcoin price toward $74,000–$75,000, an area that previously provided support but may now act as resistance. How the CPI affects sentiment will be key to the near-term Bitcoin price prediction.
Ethereum price prediction
Ethereum (ETH) is hovering near $1,990, slightly below $2,000, after a 1.9% rise over the past day. While the short-term bounce is encouraging, the token remains close to an important support level.
The Ethereum price has support at $1,850. If this level holds, bulls may try to drive a move toward the $2,000–$2,100 resistance zone. Breaking above it would point to improving momentum.
Should $1,850 give way, however, downside risks would increase. The next area of interest would be $1,750, followed by the lower Bollinger Band at approximately $1,690. As with other major assets, the Ethereum price prediction will largely reflect macroeconomic sentiment and risk appetite.
XRP price prediction
Ripple (XRP) is hovering around $1.40, up about 2% over the past 24 hours. The token is trying to steady itself, but price action is still sensitive to key technical levels.
The XRP price is holding just above the $1.35 support level. If buyers defend this zone and push past the $1.45 resistance, we could see a move toward $1.60.
If support at $1.35 gives way, XRP could slide toward $1.28 as the next key level. The short-term XRP price prediction will largely hinge on how traders respond to the latest CPI data and overall market mood.
