Cryptocurrency prices rose on Wednesday as US CPI data buoyed markets, with Bitcoin surging to above $100k. XRP reached $3 for the first time since 2018.
Ethereum also climbed to reach prices above $3,450. Meanwhile, Binance coin BNB, meme coin dogwifhat and proof-of-work coin Kaspa broke higher.
While BTC has dipped to near $99.2k at the time of writing, the market looks largely bullish. Here is the price update for top coins BTC, ETH and BNB as well as WIF and KAS.
Bitcoin price retests $100k
The upward sentiment that engulfed the crypto over the past 24 hours came as BTC crossed the $100k mark for the first time in 2025.
Bitcoin spot ETFs recorded a significant $755 million net inflows as the benchmark asset rose. This meant shorts suffered the most as total liquidations spiked to $353 million, with about $213 million in shorts.
According to analysts at QCP Capital, global markets reacted higher as the US recorded softer-than-expected CPI data.
The price of Bitcoin rose to above $100,800 while the S&P 500 and Nasdaq closed 1.83% and 2.27% higher respectively.
“With markets rallying and optimism building, crypto is showing promising signs of recovery. From BTC nearing $100K to altcoins gaining momentum, this could be the start of something big,” QCP Capital posted on X.
Notably, a new survey has shown that over half of US investors have sold gold and stocks to buy Bitcoin.
Ethereum jumps amid ETF inflows
The ETH price climbed to $3,473, a 24-hour peak that saw bulls touch highs last seen in the first week of 2025.
On January 15, Ethereum spot ETFs recorded total net inflows of Ethereum $59.7821 million to mirror interest in BTC ETFs.
Analysts are bullish on ETH price, with Trump-backed World Liberty Financial aggressively buying the coin.
Bitwise chief executive officer Hunter Horsley pointed to one such example of investment in Ethereum.
“An Wealth Management Firm in New York just made a 1% allocation to Ethereum across clients via Bitwise ETPs. No other crypto exposure. 100% ETH.”
BNB, WIF, and KAS tokens surge
Per a new CryptoQuant report, the crypto exchange Binance continues to dominate the market with more than 53% of global users opting for the exchange as a primary trading venue. Nearly half of users also say they hold most of their assets on Binance.
The dominance coincides with the surge in BNB price. On Jan 16, the native Binance token traded to highs of $714.96, with daily trading volume up 20% to $1.91 billion. BNB was up 3% in the past 24 hours.
Elsewhere, meme coin dogwifhat rose more than 13% in 24 hours to rank as one of the top performers per CoinMarketCap. WIF volume was up 107% to over $397 million.
Proof-of-work coin Kaspa also trended among top gainers with a 10% surge in 24 hours. With over 100 million blocks produced since its mainnet launch, Kaspa stands out as one of the top coins to mine.
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