Risk appetite rebounds on softer US CPI…Bitcoin reclaims the $70,000 level

Bitcoin (BTC) has climbed back above the KRW 100 million mark on news that the US Consumer Price Index (CPI) is cooling. As inflation pressures eased, expectations for interest-rate cuts revived, drawing short-term buying across risk assets.

According to South Korean crypto exchange Upbit on the 15th, bitcoin was trading at around KRW 103 million on domestic exchanges as of the afternoon, regaining the KRW 100 million range. In dollar terms, it is also back above $70,000. After repeatedly swinging in the high KRW 90 million range, the trend tilted upward over the weekend.

Major tokens such as Ethereum, Solana and XRP also rose in tandem. XRP in particular posted a relatively stronger gain, leading the short-term rebound.

A key driver of the bounce was that the US CPI came in below market expectations. With the year-on-year increase easing to the mid-2% range, expectations for a dovish shift by the Federal Reserve resurfaced. Strong jobs data had previously fueled bets that rate cuts would be delayed, but the inflation reading was seen as partially offsetting that view.

Optimism is also building that the Clarity Act, a crypto market structure bill, will pass. US Treasury Secretary Scott Bessent previously said that “Congress will establish federal rules for digital assets by spring,” adding that “if the bill passes, US President Donald Trump will sign it immediately.”

Still, with macro indicators sending mixed signals, the risk of heightened volatility remains. Some in the market expect a near-term recovery within a range, while others argue caution is warranted, leaving room for further declines.

As of the day, bitcoin’s so-called kimchi premium stood in the low-2% range. The Fear & Greed Index, a gauge of investor sentiment, came in at 8, remaining in “Extreme Fear,” prompting assessments that the broader market’s underlying strength has yet to fully recover despite the rebound.