Overview
- U.S. CPI rose 2.7% year over year and 0.3% month over month in December, with core at 2.6% YoY and 0.2% MoM, keeping rate expectations steady and lifting risk appetite.
- Bitcoin pushed above $94,000 after the data, recovering from Monday’s dip and testing the upper end of its recent $88,000–$94,000 range.
- Powell’s disclosure of DOJ grand jury subpoenas over his 2025 testimony intensified political risk and coincided with record highs in gold and strong silver gains.
- Privacy coins outperformed during the move, with Monero hitting a new all-time high near $700 and Zcash also advancing.
- Market structure remains mixed, with recent spot Bitcoin ETF net outflows since November offset by a reported $116.7 million inflow on Jan. 12, defensive put skews on Deribit, and key levels at ~$92.2K (short‑term holder ‘profit flip’) and $94,555 (breakout trigger) in focus.