Bitcoin passes $68K on slower US CPI print, but Fed rate-cut odds stay low

Bitcoin (BTC) gained astatine Friday’s Wall Street unfastened arsenic a caller US ostentation astonishment boosted the mood.

Key points:

• Bitcoin terms enactment heads toward cardinal absorption aft US CPI ostentation information cools beyond expectations.

• Crypto becomes a standout connected the time arsenic macro assets spot a chill absorption to slowing inflation.

• Traders enactment wary connected wide BTC terms strength.

Bitcoin spikes connected brushed January CPI data

Data from TradingView showed up to 4% regular BTC terms gains astatine the clip of writing, with BTC/USD reaching $69,190 connected Bitstamp.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The renewed upside came aft the January people of the US Consumer Price Index (CPI) fell abbreviated of expectations.

As confirmed by the Bureau of Labor Statistics (BLS), halfway CPI matched estimates of 2.5%, portion the broader speechmaking was 2.4% — 0.1% little than anticipated.

US CPI 12-month % change. Source: BLS

Reacting, trading assets The Kobeissi Letter noted that CPI ostentation was present astatine multiyear lows.

“Core CPI ostentation is present astatine its lowest level since March 2021,” it wrote successful a station connected X. 

“Odds of further involvement complaint cuts are backmost connected the rise.”

Fed people complaint probabilities for March FOMC gathering (screenshot). Source: CME Group

Kobeissi referred to the prospects of the Federal Reserve cutting involvement rates astatine its adjacent gathering successful March. As Cointelegraph reported, marketplace expectations of specified an result were antecedently astatine stone bottom, not helped by beardown labor-market performance.

After the CPI release, likelihood of a minimal 0.25% chopped remained astatine little than 10%, per information from CME Group’s FedWatch Tool.

Continuing, Andre Dragosch, European caput of probe astatine crypto plus manager Bitwise, argued that erstwhile viewed done the lens of Truflation, an alternate ostentation meter, the CPI driblet was “not truly a surprise.”

— André Dragosch, PhD⚡ (@Andre_Dragosch) February 13, 2026

Elsewhere connected macro, golden attempted to reclaim the $5,000 per ounce mark, portion the US dollar scale (DXY) sought a betterment aft an archetypal CPI driblet to 96.8.

US stocks, connected the different hand, failed to transcript Bitcoin’s enthusiasm, trading modestly down connected the time astatine the clip of writing.

Analyst eyes existent scope for BTC terms higher low

Considering the outlook for BTC terms action, marketplace participants had small crushed to change their cautious positions.

Related: Binance teases Bitcoin bullish 'shift' arsenic crypto sentiment hits grounds low

“$BTC Still consolidating successful this falling wedge,” trader Daan Crypto Trades wrote successful his latest X update. 

“Attempted a interruption retired yesterday but got slammed backmost down astatine the $68K level. That's the country to ticker if this wants to spot different limb up astatine immoderate point.”

BTC/USDT perpetual declaration one-hour chart. Source: Daan Crypto Trades/X

Earlier, Cointelegraph reported connected the value of the $68,000-$69,000 zone, which plays big to some the aged 2021 all-time precocious and Bitcoin’s 200-week exponential moving mean (EMA).

“Whether you similar it oregon not: Bitcoin remains to beryllium successful an country wherever I deliberation that we'll spot a higher debased travel in,” crypto trader, expert and entrepreneur Michaël van de Poppe predicted successful his own forecast. 

“It's fragile, for sure, but it doesn't mean that we're not going to beryllium seeing immoderate momentum coming successful from the markets.”

BTC/USDT 12-hour chart. Source: Michaël van de Poppe/X