**Bitcoin (BTC)** surged after lower-than-expected inflation data boosted market optimism. **Michaël van de Poppe**, a notable crypto trader, cited the CPI data and highlighted the market's anticipation of rate cuts. This positive news triggered a **4% gain** for Bitcoin, briefly reaching **$69,600**. Altcoins such as **Dogecoin (DOGE)** and meme coins like **Pepe (PEPE)** and **Dogwifhat (WIF)** also experienced gains. Analysts believe this inflation slowdown signals potential crypto growth and see Bitcoin's technical target at **$116,652**. Despite some market volatility, most Bitcoin holders remain in profit.

<a href="https://www.benzinga.com/markets/equities/24/06/39289912/us-inflation-eases-more-than-expected-in-may-boosts-2024-rate-cut-prospects-ahead-of-wednesdays-">Lower-than-expected CPI data</a> has boosted Bitcoin&#039;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price higher thereby a 3% increase in global crypto market capitalization.  
What Happened: Annual inflation rate slowed more than the economists expected in May, pushing hopes for interest rate cuts this year ahead of a pivotal Fed <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39252500/fed-meeting-preview-economists-predict-steady-rates-in-june-fewer-cuts-ahead" target="_blank" rel="noreferrer noopener">meeting later on Wednesday.</a>
Notable crypto trader Michaël van de Poppe <a href="https://x.com/CryptoMichNL/status/1800869763993972865">cited</a> the CPI data and stated, "Dollar and Treasury Yields are dropping significantly as the markets are expecting rate cuts to be happening." He remains bullish on altcoins and Bitcoin and had <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39278305/ethereum-and-altcoins-may-quickly-rebound-after-fomc-meeting-trader-predicts">predicted</a> a bounce in case of positive news.
Reflecting an immediate optimism, Bitcoin prices spiked to $69,600 for a brief period, marking a gain of around 4%. Altcoins and meme coins followed suit with Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) up 5%, while ...<a href=https://www.benzinga.com/markets/cryptocurrency/24/06/39294559/cpi-data-is-best-possible-news-bitcoin-could-have-gotten-trader-remarks alt=CPI Data Is &#039;Best Possible News&#039; Bitcoin Could Have Gotten, Trader Remarks>Full story available on Benzinga.com</a>

Loading...Loading...Lower-than-expected CPI data has boosted Bitcoin's BTC/USD price higher thereby a 3% increase in global crypto market capitalization. What Happened: Annual inflation rate slowed more than the economists expected in May, pushing hopes for interest rate cuts this year ahead of a pivotal Fed meeting later on Wednesday.Notable crypto trader Michaël van de Poppe cited the CPI data and stated, "Dollar and Treasury Yields are dropping significantly as the markets are expecting rate cuts to be happening." He remains bullish on altcoins and Bitcoin and had predicted a bounce in case of positive news.Reflecting an immediate optimism, Bitcoin prices spiked to $69,600 for a brief period, marking a gain of around 4%. Altcoins and meme coins followed suit with Dogecoin DOGE/USD up 5%, while Pepe PEPE/USD and Dogwifhat WIF/USD spiked 13% and 8%, respectively. Shiba Inu SHIB/USD is up 2%.Kevin sees it as "the best possible news we could have gotten," predicting rate cut guidance for later in the day. Also Read: Bitcoin Soars Above $69K On Improved Inflation Data PrintWhy It Matters: Analytics firm Santiment wrote "it’s a signal that inflation is slowing, increasing the likelihood of crypto rising." After the data release, Javon Marks sees Bitcoin's current technical target at $116,652.Rekt Capital marked extreme fear and extreme greed in one Bitcoin chart immediately after the data release. IntoTheBlock data shows large transaction volumes increasing by 19.2%, while daily active addresses spiked by 4%. Exchanges net flows increased by 211.7%. Transactions greater than $100,000 surged from 7,782 transactions on June 10 to 9,074 transactions to June 11. 95% of Bitcoin holders are currently in profit.What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.Read Next: Bitcoin, Ethereum, Dogecoin Dump Before FOMC Wednesday: Here’s What They Did After Prior MeetingsImage: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

CPI Data Is 'Best Possible News' Bitcoin Could Have Gotten, Trader Remarks

CPI Data Gives Bitcoin a Boost, Trader Calls it 'Best Possible News'

**Dogecoin's price is making headlines again**, with a **27% surge this week**, reaching its highest point in two months. This comes as **Bitcoin flirts with its all-time high**, currently just **5% shy of the $108,786 mark** set earlier this year.

### Key Highlights:
- **Dogecoin (DOGE)** hit **$0.225**, marking a **9% increase in the last day alone** and a **27% jump over the week**.
- **Bitcoin (BTC)** is trading at **$103,700**, inching closer to its record high, fueled by **positive market sentiment**.
- **Ethereum (ETH)** leads the pack with a **32% weekly gain**, thanks to the successful **Pectra network upgrade** and optimistic global economic indicators.

### Market Dynamics:
- **Open interest for Dogecoin futures** has risen to **$2.52 billion**, the highest since mid-February, indicating **renewed trader confidence**.
- **Daily crypto market liquidations** exceeded **$1.1 billion**, with **Ethereum short traders bearing the brunt** of the market's upward movement.

### Meme Coins and Beyond:
While **Dogecoin shines**, other meme coins like **Moo Deng (MOODENG) and Peanut the Squirrel (PNUT)** have seen even **more dramatic gains**, with MOODENG nearly **tripling in price** this week.

### Why Ethereum is Outperforming Bitcoin:
Analysts point to **Ethereum's flawless technical upgrade** and **hopeful global economic signs** as key drivers behind its **explosive gains**, suggesting **significant upside potential** after a period of stagnation.

Dogecoin's price is barking its way back up the charts this week as Bitcoin nears $104,000—but Ethereum is outgaining them both.

Dogecoin Surges 27% Amid Bitcoin's Record-Breaking Rally - What's Driving the Crypto Market?

**Michael Saylor**, the founder of Strategy, recently shared his insights on why Bitcoin has yet to reach the $150,000 mark. According to Saylor, the primary reason is the **sell-off by holders lacking a long-term outlook**, while a new wave of investors begins to enter the market.

### The Rotation Phenomenon
"I think we’re going through a rotation right now," Saylor mentioned during his appearance on the *Coin Stories* podcast with Natalie Brunell on May 9. He pointed out that many Bitcoin holders, including governments, lawyers, and bankruptcy trustees, do not possess a **10-year investor mindset**. This lack of commitment has led to significant sell-offs as Bitcoin's price began to rally.

![Cryptocurrencies, Bitcoin Price, Michael Saylor](https://s3.tradingview.com/news/image/cointelegraph:12fe25828094b-c3dc6a741b3091c7c06af4dbac8d8d79-resized.jpeg)

### New Investors Entering the Market
Despite the sell-offs, Saylor highlighted the entrance of a **new cohort of investors** through **ETFs and Bitcoin treasury companies**. This shift is seen as a positive development for the long-term growth of Bitcoin.

### Bitcoin's Price Journey
After hitting an all-time high of **$109,000** on Jan. 20, Bitcoin experienced a downtrend, dropping to **$76,273** by April 9. However, it has since shown signs of recovery, reclaiming **$100,000** on May 8 following US President Donald Trump's proposed tariffs.

### Strategy's Bitcoin Holdings
Strategy's Bitcoin holdings are now **50.27% above their average purchase price** of $68,569. The firm currently holds **555,450 Bitcoin**, valued at approximately **$57.23 billion**, according to Saylor Tracker data.

### US Government's Surprising Stance
Saylor expressed surprise at the **US government's rapid and positive shift** in sentiment towards Bitcoin post-Trump's inauguration. "I didn’t expect all the Cabinet members to be so enthusiastic," he admitted.

Strategy founder Michael Saylor says Bitcoin hasn’t reached $150,000 yet because holders without a long-term outlook have been selling off while a new cohort of investors are beginning to enter the market.“I think we’re going through a rotation right now,” Saylor said on the Coin Stories podcast wi…

Why Bitcoin Hasn't Hit $150K Yet: Michael Saylor Reveals the Shocking Truth

The cryptocurrency industry faced a significant setback as Senate Democrats rejected an industry-backed crypto bill, marking a pivotal moment in the digital asset lobby's efforts on Capitol Hill. **Sen. Elizabeth Warren (D-Mass.)** and other progressives have been vocal opponents, citing concerns over the Trump family's deepening ties to the crypto sector. 

### **The Political Divide Over Crypto**
The bill, aimed at creating a regulatory framework for **stablecoins**, found itself at the heart of partisan disputes. Democrats, including Minority Leader **Chuck Schumer**, have shown interest in crypto but are divided on how to approach legislation, especially with the Trump family's crypto ventures looming large. 

### **Trump's Crypto Ventures Stir Controversy**
The Trump family's involvement in crypto, including the launch of a **stablecoin** and a **memecoin**, has added layers of complexity to the legislative process. Critics argue these ventures represent conflicts of interest, with Sen. **Chris Murphy (D-Conn.)** calling it "the biggest corruption in the history of the White House."

### **The Path Forward**
Despite the rejection, the bill isn't dead. Procedural moves allow for its reconsideration, and bipartisan negotiations continue. However, the debate underscores the challenges of crafting crypto legislation in a highly polarized environment, with **campaign finance** and **political spending** by the crypto industry playing significant roles.

### **Crypto's Political Influence**
The industry's substantial **political donations** are a double-edged sword, offering both support and scrutiny. A crypto super PAC, with over **$110 million** for the 2026 elections, exemplifies the sector's growing political clout, influencing both allies and adversaries within Congress.

The crypto industry's winning streak in Washington has hit a major snag in the Senate.

Senate's Crypto Bill Rejection: A Major Setback for Industry Amid Political Turmoil

**Coinbase stock experienced a downturn** early Friday following its Q1 earnings report, which fell short of expectations. The crypto exchange reported earnings of 24 cents per share, a significant drop from $4.40 per share last year, despite a 24% increase in revenue to $2.03 billion. Analysts had anticipated earnings of $1.93 per share on nearly $2.1 billion in revenue.

**Transaction revenue** saw a 17% year-over-year increase to $1.26 billion but missed the forecasted $1.39 billion. Both consumer and institutional transaction revenues fell short of expectations, with consumer trading volume down 17% from Q4 and institutional volume dropping 9%.

In a bold move, **Coinbase announced a $2.9 billion acquisition** of Deribit, a leading crypto options trading platform. This acquisition, consisting of $700 million in cash and 11 million shares of COIN stock, aims to position Coinbase as a comprehensive player in the crypto derivatives market.

Meanwhile, **Bitcoin surged above $100,000** for the first time since February, trading around $103,000 early Friday. This marks a 6% increase for the week, with the cryptocurrency now up 10% in 2025, though still below its January peak above $109,000.

Coinbase missed estimates for Q1 results Thursday. The earnings followed reports of a $2.9 billion acquisition as the price of bitcoin rose.

Coinbase's Q1 Earnings Miss Sparks Stock Slide as Bitcoin Soars Past $100,000

## **Not Just Bitcoin Anymore**

For years, Bitcoin has been the face of cryptocurrency. However, as the market expands, both institutional and individual investors are on the lookout for the next big crypto opportunity. **Litecoin**, often referred to as the "digital silver" to Bitcoin's gold, is emerging as a strong contender. Recent developments suggest that Litecoin might be due for a significant revival, and Wall Street is taking notice.

## **Litecoin’s Legacy: More Than a Fork**

Created in 2011 by former Google engineer **Charlie Lee**, Litecoin was designed to be a faster and more scalable alternative to Bitcoin. While it shares Bitcoin's foundational code, Litecoin features **smaller block times (2.5 minutes vs. 10)** and uses the **Scrypt hashing algorithm** instead of SHA-256. These differences allow for quicker transaction confirmations and a more energy-efficient network.

Litecoin has consistently served as a reliable transactional currency and has frequently been the testing ground for new updates before they're implemented on Bitcoin. Its iconic logo symbolizes **speed, convenience, and decentralization**, and recent updates to the logo have refreshed its image without altering its core message.

## **Wall Street Turns Its Head**

![Litecoin Wall Street Interest](https://worldbusinessoutlook.com/wp-content/uploads/2025/05/Untitled-design-2025-05-08T135837.100.jpg)

So, why is Litecoin back in the headlines? Here are a few key reasons:

- **Low fees and fast transaction times** make it ideal for institutional use.
- It's one of the few altcoins traded on major, institutionally preferred exchanges.
- New features like **MimbleWimble Extension Blocks (MWEB)** have added optional privacy, enhancing its appeal.

A 2024 CoinDesk report highlighted how established cryptos like Litecoin outperform newer tokens during market stress due to their **proven security and ongoing development**.

## **Why Litecoin Might Be the Best Coin to Invest In Today**

Litecoin stands out for several reasons:

- **Proven track record**: Over a decade of operation with no major security breaches.
- **Liquidity**: Widely traded on all major exchanges with substantial daily volume.
- **Adoption**: Increasingly used for micropayments, tipping, and cross-border transactions.
- **Community**: Boasts one of the most dedicated developer and user bases in crypto.

For those seeking a **stable investment** that balances innovation with reliability, Litecoin is a compelling choice.

## **Next Big Crypto? Or an Undervalued Contender?**

While many coins thrive on hype, Litecoin's strength lies in its **stability and utility**. Analysts suggest that its focus on practical use cases could help it outshine newer, more speculative tokens in the long run.

Despite its lack of flashy headlines, Litecoin's **resilience and incremental progress** make it one of the most underestimated assets in the crypto space.

## **Last Word: Fundamentals-backed**

Litecoin isn't a meme coin or a speculative gamble. It's a **decade-old network** that continues to operate smoothly, remain decentralized, and improve over time. As Wall Street evaluates its next crypto moves, Litecoin checks many of the right boxes.

Whether you're an institutional investor or a crypto newcomer, Litecoin offers **clarity and stability** in a market often dominated by hype. If you're building your portfolio and wondering about the **next big crypto**, Litecoin deserves serious consideration. Sometimes, the best investments are the ones that **quietly endure**.

While it’s also sometimes called the “digital silver” to Bitcoin’s gold, litecoin news today suggests that this investment may be overdue for a revival.

CPI Data Gives Bitcoin a Boost, Trader Calls it 'Best Possible News'

Summary:

Bitcoin surged after lower-than-expected CPI data.

Trader Michaël van de Poppe called it "the best possible news we could have gotten."

Bitcoin briefly reached $69,600, a 4% gain.

Altcoins and meme coins also experienced gains.

Analysts see potential crypto growth and Bitcoin's technical target at $116,652.

Comments

Join Our Community

BitcoinToday.app

Other Latest News

Dogecoin Surges 27% Amid Bitcoin's Record-Breaking Rally - What's Driving the Crypto Market?

Why Bitcoin Hasn't Hit $150K Yet: Michael Saylor Reveals the Shocking Truth

Senate's Crypto Bill Rejection: A Major Setback for Industry Amid Political Turmoil

Coinbase's Q1 Earnings Miss Sparks Stock Slide as Bitcoin Soars Past $100,000

Litecoin: The Underestimated Crypto Gem Wall Street Can't Ignore

Other Latest News

Dogecoin Surges 27% Amid Bitcoin's Record-Breaking Rally - What's Driving the Crypto Market?

Why Bitcoin Hasn't Hit $150K Yet: Michael Saylor Reveals the Shocking Truth

Senate's Crypto Bill Rejection: A Major Setback for Industry Amid Political Turmoil

Coinbase's Q1 Earnings Miss Sparks Stock Slide as Bitcoin Soars Past $100,000

Litecoin: The Underestimated Crypto Gem Wall Street Can't Ignore