Bitcoin plunges to $ 94,000 after US inflation data is released

On Wednesday, February 12, bitcoin BTC $76,136.41 Mezo Wrapped BTC -0.28% Market capitalization $0.1 billion VOL. 24 hours $0.72 billion fell to $ 94,000 after the publication of inflation data in the United States. The US Department of Labor reported that in January 2025, the consumer price index (CPI) rose by 0.1%, reaching 3% in annual terms. For comparison, in December 2024, the figure was 2.9%.

Against the backdrop of this news, the crypto market has experienced serious fluctuations. The volume of liquidations on the futures market exceeded $ 84 million in just one hour. Of this amount, $ 66 million was accounted for by long positions and $ 18 million by short trades, according to CoinGlass.

At the time of writing, bitcoin has recovered slightly and is trading around $ 95,500. Nevertheless, the market remains volatile due to macroeconomic uncertainty.

Earlier, BitMEX co-founder Arthur Hayes predicted that in the event of a significant increase in inflation, bitcoin could reach $ 1 million in the coming years. However, so far, the crypto market has been reacting negatively to economic news, showing high volatility.