- Major cryptocurrencies including Bitcoin, Ethereum, BNB, Solana and XRP rallied initially but later gave back gains.
- Sentiment improved after the release of the US Consumer Price Index (CPI) report, but prices failed to sustain a strong upward move.
- 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 held mostly steady despite Wall Street’s strong reaction to important economic data.
Overall, the crypto market was subdued on Friday, October 24, 2025. An initial price spike after the release of the US Consumer Price Index (CPI) failed to translate into meaningful, lasting gains.
Although several tokens traded in positive territory, the muted action left the global crypto market capitalization, according to CoinGecko, around $3.81 trillion.
Market sentiment remained largely cautious, with the Fear & Greed index at 32, firmly in fear territory.
At the same time, global 24-hour trading volume declined to $153 billion.
Bitcoin and Ethereum prices react to CPI data
The US Bureau of Labor Statistics published the September CPI inflation report on Friday.
The data showed inflation cooling more than expected, with headline CPI rising 0.3% and core CPI up 0.2% for the month.
On an annual basis, both headline and core readings came in at 3%.
Economist Mohamed El-Erian commented on what the figures imply:
“This report makes a rate cut from the Federal Reserve next week very likely. What happens beyond that will depend on subsequent data, primarily confirmation of a softening labor market and continued disinflation.”
Stocks leapt on the report and a range of other bullish factors.
Bitcoin briefly reached highs near $111,842 before pulling back to about $110,500.
Ethereum rose toward $4,000 before retreating to roughly $3,870 and stabilizing just above $3,900.
Despite the cooler inflation readings, analysts put the odds of a Fed rate cut on October 29 at about 99%.
Such a move would likely bolster risk assets, and both BTC and ETH could attempt to clear key resistance walls near $115,000 and $4,250, respectively.
BNB steadies after pardon for Changpeng Zhao
BNB, Binance’s native token, held around $1,106 with only minor movement following the CPI release.
The token benefits from Binance’s dominance in spot trading, and news that President Donald Trump pardoned founder Changpeng Zhao gave the broader market a boost.
BNB moved from lows near $1,048 up toward $1,150 on October 24 before settling close to the psychologically significant $1,000 level.
Solana and XRP steady but below key levels
Both Solana and XRP remained relatively stable, trading near $190 and $2.49, respectively.
Network activity, partnerships and acquisitions have supported sentiment, along with expectations around spot ETFs and liquidity strategies.
However, SOL and XRP remain beneath important buy zones at $200 and $3.00. Confidence could rise sharply if bulls overpower bears at those thresholds.
Additionally, reports that Ripple is among crypto firms funding donations to a Trump White House ballroom project have placed further attention on XRP.