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Bitcoin extended its pullback on Thursday, but the world’s largest cryptocurrency remained supported above the crucial $100,000 mark, as markets remained cautiously optimistic ahead of key U.S. inflation data that could shape the Federal Reserve’s interest rate path.
As of 02:02 ET (06:02 GMT), Bitcoin slipped 1.3% to $102,422.5, retreating from a recent rally that had taken it to a three-week high.
Bitcoin Resilient on Trade Easing, Fed Rate Bets in Focus
Investors continue to digest this week’s temporary tariff rollback deal between the United States and China. The joint statement from both sides helped ease concerns over a broader global slowdown, spurring appetite for risk assets—including cryptocurrencies.
Adding to the upbeat mood, U.S. consumer price index (CPI) data released on Tuesday came in softer than expected, reducing fears that trade-related costs would reignite inflation. The moderation in inflation metrics has reinforced market expectations of a Federal Reserve rate cut later this year, though analysts warn that policymakers will remain vigilant for signs of reacceleration.
Focus now turns to the U.S. Producer Price Index (PPI) due later Thursday. The data is expected to provide further insight into wholesale inflation trends, potentially influencing near-term monetary policy and market sentiment toward rate-sensitive assets like Bitcoin.
eToro’s Nasdaq Debut Boosts Crypto Sentiment
In a major milestone for the crypto industry, Israeli trading platform eToro made a strong Nasdaq debut on Wednesday. Shares opened at $69.69, up 34% from the IPO price of $52, valuing the company at $5.6 billion.
The firm raised approximately $620 million through the sale of 11.9 million shares, exceeding its initial fundraising target. eToro, which allows users to trade both stocks and cryptocurrencies while copying strategies of top-performing investors, is expected to benefit from growing retail interest and perceived regulatory clarity under the Trump administration.
Earlier this week, Coinbase Global (NASDAQ:COIN) also made headlines by becoming the first crypto-focused company to be included in the S&P 500 index, further cementing digital assets’ place in mainstream finance.
Altcoins Retreat as Volatility Resurfaces
While Bitcoin held relatively steady, altcoins faced renewed selling pressure on Wednesday following strong gains earlier this week.
- Ethereum (ETH) dropped 3.8% to $2,574.30
- XRP declined 3.6% to $2.4983
- Solana (SOL) and Cardano (ADA) both fell over 5%, while
- Polygon (MATIC) tumbled more than 7%
Among meme coins, Dogecoin slumped 5.8%, and the politically themed $TRUMP token fell 6.2%.
