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Bitcoin staged a recovery above the $81,000 threshold after a temporary decline following Tuesday’s inflation data release. US equity index futures also moved higher as investors shifted attention from domestic economic figures to international diplomatic developments.
The Consumer Price Index for April rose 3.8% year-on-year, exceeding economists’ consensus forecasts. The report contributed to a sharp move in bitcoin: the price touched $79,879 immediately after the release before rebounding to $81,208 during Wednesday’s Asian trading session.
Rising gasoline costs, linked to escalating tensions involving Iran, were cited as a key factor behind the inflation reading.
Compared with traditional markets, the cryptocurrency sector showed more stability. On Tuesday, the S&P 500 fell 0.2% and the Nasdaq 100 dropped 0.9%, with chip manufacturing stocks among the biggest decliners.
Within crypto, BNB rose 2.5% to $677 and Dogecoin gained 1.3% to $0.1114. Ether fell 0.3% on the day and is down 3.2% over the past week, making it the weakest performer among leading digital assets. Solana declined 0.6% to $95.52, while XRP dropped 0.5% to $1.45.
CoinShares reported $858 million in worldwide cryptocurrency fund deposits over the previous week. Bitcoin-focused products accounted for $706 million of the total, followed by Ether at $77 million, Solana at $48 million, and XRP at $40 million.
A notable signal came from $14 million exiting bitcoin short strategies, marking 2026’s largest weekly unwinding of bearish positions. The data suggests pessimistic bets against bitcoin are easing despite ongoing economic uncertainty.
FxPro market analyst Alex Kuptsikevich said bitcoin is meeting resistance just below its declining 200-day moving average. He described the current price action as consolidation following a rally rather than a trend reversal.
CoinShares attributed part of the inflow to progress on the CLARITY Act. A negotiated agreement on stablecoin yield provisions is expected to be considered by the Senate Banking Committee in the coming week.
Wednesday’s US stock index futures were higher. Dow futures were relatively unchanged, S&P 500 futures rose 0.3%, and Nasdaq 100 futures gained 0.5%.
President Trump began a trip to China to meet President Xi Jinping, with discussions focused on trade policy and artificial intelligence development. The delegation includes technology executives such as Tesla’s Elon Musk, Apple’s Tim Cook, and Nvidia’s Jensen Huang.
Reports that Nvidia’s Jensen Huang would join the delegation supported semiconductor stock futures during Asian trading hours.
Investors are also monitoring ceasefire negotiations involving Iran, which Trump described as still “on life support.” Crude oil valuations have risen throughout the week amid the ongoing confrontation.
In the US, Wednesday’s calendar includes producer price index data and quarterly earnings from Cisco Systems, Alibaba, and Birkenstock. A Senate confirmation hearing is also scheduled for Kevin Warsh as the prospective Federal Reserve chair.
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