Bitcoin Tops $69K as CPI Slows to 2.4%, Fed Rate‑Cut Odds Remain Low

U.S. consumer price index (CPI) slowed to 2.4% year‑over‑year in January, a four‑year low that came in below forecasts and drew immediate market attention to the Federal Reserve’s policy outlook ^[2][3][4].

Bitcoin climbed above $69,000 after the CPI print, with reporters describing a relief rally and commentary that the move gave bulls momentum toward a potential “higher low” in price action ^[1][6].

Despite the price move, several market indicators and coverage said odds for near‑term Fed rate cuts remained low, though some outlets noted that a subset of traders increased bets on eventual easing following the softer inflation data ^[1][6][3].

The CPI surprise supported risk assets including Bitcoin, but analysts and markets continue to look for further data and Fed signals to confirm any change in the policy path ^[1][2][6].