Bitcoin reclaims $81,000 after stronger-than-expected CPI data, as BNB and DOGE outperform major cryptocurrencies

Bitcoin rebounded above $81,000 after briefly sliding below $80,000 in response to a hotter-than-expected U.S. inflation report, while BNB and dogecoin outperformed as crypto investment inflows surged.

The leading cryptocurrency dipped to around $79,800 late Tuesday after April’s CPI came in at 3.8% year-over-year, exceeding expectations and driven largely by higher fuel costs amid ongoing geopolitical tensions. Despite the initial reaction, buyers quickly stepped in, pushing bitcoin back to roughly $81,200 by Wednesday morning in Asia and leaving it slightly higher on a 24-hour basis.

Among major tokens, BNB led gains with a rise of about 2.5%, followed by dogecoin, which added over 1%. Ether, however, continued to lag, slipping on the day and extending its weekly losses. Solana and XRP also edged lower, reflecting uneven performance across the broader crypto market.

Traditional financial markets showed a more negative response to the inflation data. U.S. equities declined modestly, with tech stocks—particularly semiconductors—bearing the brunt of the selling after a strong prior run.

In bond markets, the U.S. two-year Treasury yield hovered just below 4%, while long-dated Japanese yields climbed to their highest levels in decades, highlighting persistent global inflation pressures fueled in part by elevated energy prices.

Despite macro uncertainty, capital flows into crypto remain strong. According to CoinShares, digital asset investment products recorded $858 million in inflows last week, with bitcoin attracting the majority, followed by smaller allocations into ether, solana, and XRP.

A notable development was the sharp reduction in bearish positioning. Bitcoin short products saw $14 million in outflows, marking the largest weekly unwind of short bets this year. This shift suggests investors are dialing back downside expectations even as macro conditions remain volatile.

Sentiment indicators, however, point to a balanced market. Recent readings have hovered just below neutral levels, indicating that bearish pressure has not fully dissipated.

From a technical perspective, bitcoin continues to face resistance near its 200-day moving average, which has capped gains in recent sessions. Still, the relatively shallow pullback suggests consolidation rather than a broader trend reversal.

Regulatory developments may also be offering support. The recent surge in inflows coincided with progress on U.S. stablecoin legislation under the CLARITY Act, which is expected to be reviewed by lawmakers soon. This has emerged as a rare positive catalyst in an otherwise complex macro environment.

For now, bitcoin’s ability to hold above $81,000 despite elevated inflation and rising yields signals underlying demand. The next test will come from upcoming macro data and regulatory developments, which could determine whether the recovery can extend further.

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