U.S. inflation data released on January 15 showed encouraging signs of easing price pressures. Core CPI, which measures the changes in the price of goods and services, excluding the volatile food and energy prices, posted a 3.2% annual gain - marking its lowest reading in four months and coming in below market forecasts. While Tuesday's Producer Price Index (PPI) edged slightly higher, it still remained below consensus expectations, further supporting the narrative of moderating inflationary pressures.
This data led to a big rally in the riskier markets, reflecting a sigh of relief among investors, driven by the reduced likelihood of rate hikes leading to a greater willingness to take risks.
The global crypto market cap increased 2.97% over the last 24 hours and is currently at $3.47 tn. The total crypto market volume over the last 24 hours is $158.03 bn, a 25.01% increase.
The total volume in DeFi is currently $9.68 bn, representing 6.13% of the total crypto market 24-hour volume. The volume of all stable coins is at $143.95 bn, which is 91.09% of the total crypto market 24-hour volume. The stablecoin markets recorded almost double the USD inflows on Jan 15 than they did on Jan 14.
US Bitcoin Spot ETFs reversed their trend, recording significant net inflows of $755.1 million following four consecutive trading sessions of net outflows. US ETH Spot ETFs also recorded a daily net inflow of $59.7m.
