Bitcoin price today: steady near $87k after soft US CPI data, set for weekly loss
Investing.com-- Bitcoin was largely steady on Friday near the $87,000 level after moving in tight ranges earlier in the week, as investors digested surprisingly soft U.S. inflation data that strengthened expectations of future Federal Reserve rate cuts.
The world’s largest cryptocurrency last traded 0.6% higher at $87,121.6 by 01:52 ET (06:52 GMT).
Bitcoin is on track to post a weekly decline of nearly 4%, extending a period of consolidation after strong gains earlier in the year. The cryptocurrency has spent much of the past week confined to a narrow band.
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Bitcoin has repeatedly failed this month to rebound sustainably above the $90,000 mark, a key psychological resistance level.
Thin liquidity, typical of late-December trading, has amplified caution among investors and limited follow-through after short-lived rallies. Trading volumes have remained subdued, leaving prices vulnerable to small flows and encouraging range-bound activity.
The world’s largest cryptocurrency showed little immediate reaction to Thursday’s U.S. consumer price data, which came in weaker than expected, with annual inflation at 2.7%.
Thursday’s data reading reinforced market bets that the Federal Reserve could further cut rates more swiftly in 2026. Interest rate futures now reflect increased expectations of easing in early 2026, as cooling price pressures ease constraints on policymakers.
Lower interest rates typically support risk assets by reducing the opportunity cost of holding non-yielding investments such as Bitcoin.
With no major crypto-specific developments to galvanise sentiment, the inflation surprise alone was not enough to drive Bitcoin decisively higher.
Intercontinental Exchange Inc (NYSE:ICE), the owner of the New York Stock Exchange, is in talks to invest in crypto payments firm MoonPay as part of a funding round, Bloomberg News reported on Thursday, citing people familiar with the matter.
New York-based MoonPay is nearing completion of the fundraising and is targeting a valuation of about $5 billion, the report said.
The talks highlight growing Wall Street interest in digital assets amid a more favourable U.S. political climate under President Donald Trump.
Most altcoins showed little to no movement on Friday.
World no.2 crypto Ethereum rose 1.8% to $2,926.92.
World no. 3 crypto XRP was largely unchanged at $1.84.
Solana and Cardano were also muted, while Polygon fell 1.1%.
Among meme tokens, both Dogecoin and $TRUMP gained 1%.
