- Major cryptocurrencies, including Bitcoin, Ethereum, BNB, Solana and XRP, traded higher briefly before giving back gains.
- Sentiment improved after the US Consumer Price Index (CPI) report, but prices failed to sustain meaningful upside.
- Analysts say the CPI data makes a Federal Reserve rate cut on October 29 “very likely.”
Major cryptocurrencies such as Bitcoin, Ethereum, BNB, Solana and XRP largely held their ground despite a strong rally in US equities after key economic data was released.
As a result, the crypto market was mostly muted on Friday, October 24, 2025. An initial price uptick following the US Consumer Price Index (CPI) report did not translate into sustained gains.
While several coins traded in the green at times, the subdued action meant the global crypto market capitalization, according to CoinGecko, remained around $3.81 trillion.
Market sentiment stayed mostly cautious: the Fear & Greed Index hovered at 32, keeping it in the “fear” zone.
Meanwhile, global daily trading volume slipped to $153 billion.
Bitcoin and Ethereum react to CPI data
The US Bureau of Labor Statistics released the September CPI report on Friday.
The data came in below expectations, with headline CPI rising 0.3% month-over-month and core CPI up 0.2%.
On a year-over-year basis, both headline and core measures stood at 3%.
Economist Mohamed El-Erian commented on the implications of the numbers:
“This report makes a Federal Reserve rate cut next week very likely. What happens beyond that, however, will depend on subsequent data, primarily confirmation of a cooling labor market and continued disinflation.”
Stocks moved higher on the back of the report and a number of other bullish drivers.
Bitcoin spiked to highs near $111,842 before quickly pulling back to about $110,500.
Ethereum climbed briefly toward $4,000, then eased back to roughly $3,870 and was trading slightly above $3,900.
Despite the softer inflation print, analysts currently assign roughly a 99% probability to a Fed rate cut on October 29.
A cut would lift the appeal of risk assets, and both BTC and ETH could challenge key supply walls near $115,000 and $4,250, respectively.
BNB steady after pardon for Changpeng Zhao
BNB, the native token of Binance, held around $1,106 with only minor movement following the CPI release.
The token benefits from Binance’s dominance in spot trading, and the news of a presidential pardon for Binance founder Changpeng Zhao by President Donald Trump supported the broader market.
BNB moved from lows near $1,048 to almost $1,150 on October 24 before settling near the psychological $1,000 level.
Solana and XRP stable but below key levels
Solana (SOL) and XRP remained relatively stable, trading around $190 and $2.49, respectively.
Network activity, partnerships and acquisitions helped shape optimism tied to expectations for spot ETFs and corporate treasury strategies.
However, both SOL and XRP remain below important buying zones of $200 and $3.00, respectively.
Confidence could rise sharply if bulls push prices above those levels and overwhelm selling pressure.
Additional headlines that Ripple is among major crypto firms backing White House-related fundraising for a Trump project put XRP further in the spotlight.