Bitcoin Holds Above $118K as ETF Inflows and CPI Boost Crypto Market

Bitcoin (BTC) traded steadily near $118,300 on Thursday, showing a weekly gain of 6.6% as cooling U.S. inflation data and strong ETF inflows lifted investor sentiment. The leading cryptocurrency hovered around $118,400, up 0.4% on the day. Ether (ETH) also surged, holding above $3,340 with a 6.7% daily rise and a 20.5% gain over seven days, as market watchers anticipate a breakout to new all-time highs.

XRP continued its rally, climbing 6.4% to $3.09, posting an impressive 27% weekly surge. Other major altcoins showed similar strength—Solana (SOL) rose 5% to $170, Dogecoin (DOGE) gained 6% to $0.2120, Binance Coin (BNB) added nearly 3% to $708, and TRON (TRX) advanced 3.7% to $0.31.

The broader crypto market remains bullish, fueled by ongoing optimism surrounding U.S. spot Bitcoin ETFs and a favorable macroeconomic backdrop. On Wednesday, spot Bitcoin ETFs recorded their tenth consecutive day of net inflows, totaling $799 million, with BlackRock’s IBIT contributing $763 million alone.

A weakening U.S. dollar is also bolstering crypto gains. The dollar index (DXY) has declined roughly 10% year-to-date, enhancing the appeal of dollar-denominated assets. Traditional markets reflected mixed sentiment—Asian equities dipped, U.S. stocks showed modest weakness on tariff concerns, and gold edged higher.

Still, caution persists. QCP Capital noted that BTC momentum cooled after briefly surpassing $120,000, identifying support between $114,000 and $118,000. Seasonal trading slowdowns and equity market fatigue could limit upside in the near term.

Despite this, Bitget’s chief analyst Ryan Lee remains bullish, stating that Bitcoin reaching $150,000 by Q3 is increasingly likely, driven by ETF inflows, limited supply, and macro tailwinds like potential Fed rate cuts.