Your weekly crypto digest is here: market shifts explained, top news unpacked, and one coin spotlighted for your radar.
All eyes were on the US CPI data last week. Bitcoin jumped sharply on Friday after inflation came in lower than expected, fueling optimism that the Federal Reserve might start cutting rates sooner than anticipated.
Bitcoin went as low as $106K in the past 7 days before returning to 115K levels! Ethereum saw a similar growth trajectory, posting ~4% gains for the week. In contrast, gold faced a 5% correction over the week, ending its nine-week winning streak.
ZEC posted 44% gains this week and is gaining attention ahead of its November halving. The rally likely stems from growing interest in privacy-focused tokens as governments tighten controls on encryption.
Momentum indicators remain bullish but suggest overbought conditions. The RSI has hit its highest level since 2018, and the MACD echoes this strength. However, a bearish divergence forming on the RSI hints at a possible short-term top or pullback. As always, DYOR
Bitcoin jumped sharply on Friday after US inflation data came in weaker than expected — the Consumer Price Index (CPI) rose 3.0 % year-on-year in October, below the 3.1 % consensus.
The softer inflation reading raised hopes that the Federal Reserve might soon begin cutting interest rates, which encouraged a rally across risk assets and caused Treasury yields to fall.
Despite the positive market reaction, some analysts warned that the CPI data might be unreliable due to the US government shutdown, saying the October survey relied more than usual on estimated inputs.
Interestingly, while Bitcoin often weakens when inflation undershoots (because it boosts the dollar and reduces risk-asset appeal), this time its rally suggests traders are focusing more on rate-cut hopes and liquidity rather than macro caution.
In addition, investors have begun shifting from gold to riskier assets like Bitcoin ahead of the upcoming Fed policy meeting.
The BTC-to-gold ratio recently hit its most oversold level in nearly three years, a sign that gold’s rally may be losing steam. Historically, this has often led to Bitcoin outperforming as market fear fades and expectations of rate cuts grow.
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