Crypto markets moved higher on Friday, Feb. 13, following the release of a softer-than-expected U.S. inflation report, giving investors a dose of macro relief after weeks of uncertainty. Total crypto market capitalization rose nearly 5% in the past 24 hours, climbing to around $2.44 trillion, with most major assets trading firmly in the green.
Bitcoin regained momentum, rising back above the $69,000 level.
The move marked a daily gain of about 4.5%, pushing its weekly performance back into positive territory. Ethereum outperformed the broader market, jumping more than 7.5% to reclaim the $2,000 level and extending its weekly gains. BNB posted more modest gains, up roughly 1.7%, reflecting a more selective risk appetite among traders.
Among the top 100 cryptocurrencies by market capitalization, price action was mixed but generally constructive. Pi Network led daily gainers with an increase of around 10%, followed closely by Midnight, which rose about 9%. On the downside, World Liberty Financial recorded the largest decline among large-cap assets, though losses remained relatively contained at just over 2%.
Despite the positive price action, ETF data showed continued pressure from the institutional side. On Feb. 12, spot Bitcoin ETFs recorded net outflows totaling approximately $410 million, according to SoSoValue data. Spot Ethereum ETFs also saw net outflows of around $113 million, indicating that the market rally was not directly driven by ETF inflows, but rather by broader sentiment shifts.
The macro backdrop played a central role in shaping market behavior. The latest Consumer Price Index (CPI) data released by the U.S. Bureau of Labor Statistics showed inflation rising 2.4% year-over-year in January, slightly below the 2.5% forecast. Core inflation, excluding food and energy, came in at 2.5%, in line with expectations. While the difference was marginal, it reinforced the narrative that inflation pressures are continuing to ease.