Bitcoin and SPX6900 Bull Run Continues Amid US Inflation Surprise

Cryptocurrency markets are showing mixed signals as Bitcoin holds steady above $78,000 despite a surprise US inflation reading. SPX6900 has extended its bullish phase, trading at $0.6167 and pushing into overbought territory.

The price of Bitcoin is facing a recovery test above $80,000 as demand for exchange-traded funds strengthens. According to Glassnode, the cryptocurrency decoupled from US equities during the recent move, with BTC gaining 25% while the S&P 500 declined 1.7%. This has pushed the one-month return correlation between the two toward zero.

Ripple (XRP) is testing key support at $1.40 as on-chain activity remains elevated. Despite falling for two consecutive days, XRP maintains a constructive technical structure and raises the odds of another breakout attempt toward the pivotal $2.00 target.