The crypto market rallied on February 15 as investors reacted to new US inflation data. Bitcoin climbed above $70,000, while the total crypto market capitalization rose to over $2.4 trillion.
Several altcoins posted strong gains. Pepe jumped more than 30% in 24 hours. Zcash, Dogecoin, and Bonk gained over 10% during the same period. Other tokens such as Shiba Inu and Morpho also moved higher.
The rally followed a US inflation report that showed price pressures easing in January. The Consumer Price Index fell to 2.4%, moving closer to the Federal Reserve’s 2% target. The data increased hopes that the central bank may cut interest rates more than previously expected.
A separate labor market report showed the unemployment rate dropped to 4.3%, with over 130,000 jobs added during the month. These figures suggest the economy remains stable despite recent layoffs in some sectors.
Investor activity also increased in the derivatives market. Data from CoinGlass showed that crypto futures open interest rose nearly 2% to about $100 billion. Rising open interest often signals that traders are adding new positions.
The rally is also supported by sentiment indicators. The Crypto Fear and Greed Index remains in the “extreme fear” zone, though it has improved slightly from 8 to 13. Historically, strong rebounds have started when fear levels were high.
Despite the gains, analysts urge caution. Some warn that the rebound could turn into a “dead-cat bounce,” where prices rise briefly before resuming a broader downtrend. Investors are watching economic data and Federal Reserve signals closely in the coming weeks.
