Global Market Highlight
The Core CPI for January 2025 was 0.4%. This was higher than expected and indicates a continued upward trend in inflation, excluding food and energy prices. CPI MoM Increase In January 2025, the US Consumer Price Index (CPI) rose by 0.5% compared to December 2024's increase of 0.4%. This outpaced market expectations of 0.3%. The Consumer Price Index (CPI) year-over-year (YoY) in January 2025 is 3%. This figure is up from the previous month’s 2.9%. U.S. crude oil inventories rose by 4.1 million barrels over the past week, exceeding expectations which had indicated an increase of only about 2.4 million barrels. This increase follows a sharp rise of 8.6 million barrels in the previous week, raising concerns about excess supply in the markets.
The 10-year Treasury note auction on February 12, 2025, attracted modestly below-average demand. The auction drew a high yield of 4.632%. The initial jobless claims for the week ending February 8, 2025, were announced on February 13, 2025, and came in at 213,000. This was a decrease of 7,000 from the previous week's revised level of 220,000. US Producer Price Index MoM is at 0.40%, compared to 0.50% last month. The 30-Year Bond Auction on February 13, 2025, saw a yield of 4.748%, which was higher than the previous auction's yield of 4.913%.
BTC Technical Analysis
The BTC/USDT movement on the 1D timeframe from February 11 to February 17, 2025, shows that Bitcoin remains in a consolidation phase within a narrow range between $94,876 and $97,046. A descending trendline since early February has acted as strong resistance, limiting upward price movements.
The support level at $93,227 appears solid, as the price has repeatedly bounced from this area. With trading volume remaining relatively stable and showing no significant spikes, the market seems to be waiting for a catalyst to trigger a breakout.
If BTC successfully breaks above the descending trendline and the $99,000 resistance, the price could potentially rise towards $103,000 and $109,588. However, failure to hold above $93,227 may lead BTC to test lower support levels around $91,000 to $87,000. A breakout from this consolidation pattern will determine the next price direction.
ETH Technical Analysis
The Ethereum (ETH/USDT) price movement on the 1D timeframe from February 11 to February 17, 2025, shows that Ethereum has been consolidating between the $2,695.37 support level and resistance near $2,774.98. After bouncing from a key support at $2,502.24, Ethereum has formed a higher low, indicating potential bullish momentum.
The price is attempting to break above the short-term resistance of around $2,800, and a successful breakout could push ETH towards $3,000. However, failure to hold above $2,695.37 may see ETH retesting $2,502.24. The price action suggests Ethereum is building momentum, and a breakout above the current range would signal further upward movement, while a rejection could lead to a retest of lower support levels.
SOL Technical Analysis
From the Solana (SOL/USDT) 1D chart covering February 11 to February 17, 2025, SOL is currently priced at $184.53, down 1.99% from the previous close. The price is approaching a strong support zone of around $181.
Immediate resistance is seen at $203.40, a previous support level that has now turned into resistance, while a major resistance lies at $251.88, near recent highs before the current downtrend. Solana is in a clear downtrend, forming lower highs and lower lows. The price is testing the lower support zone, and a breakdown below $181 could push the price further down to $159.
However, if the support holds and SOL manages to break above $203.40, it could signal a potential reversal towards $220 and $250. The next significant movement will depend on whether Solana holds its current support zone or breaks down further, making volume and price action critical factors to watch in the coming days.
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