Bitcoin price action headed to new eight-week highs, diverging from US stock markets after higher-than-expected November Producer Price Index data.
Bitcoin (BTC) spiked to $97,000 at Wednesday’s Wall Street open as crypto markets shrugged off resurgent US inflation.
Key points:
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Bitcoin reaches fresh eight-week highs, shrugging off high US PPI inflation data for November.
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The Supreme Court does not issue a ruling on international trade tariffs.
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BTC price must close the week above $93,500 to repeat April 2025-style bull run.
Bitcoin hits new two-month high, shrugs off PPI
Data from TradingView showed BTC price action on the rebound after consolidating gains from the day prior.
BTC/USD one-hour chart. Source: Cointelegraph/TradingViewWith buying power back during US TradFi trading sessions, BTC/USD diverged from stocks after Producer Price Index (PPI) inflation data came in considerably above expectations.
As confirmed by the Bureau of Labor Statistics (BLS), PPI and core PPI for November 2025 came in at 3% against an anticipated 2.7%.
“The November increase in prices for final demand can be traced to a 0.9-percent advance in the index for final demand goods. Prices for final demand services were unchanged,” an official statement read.
US PPI one-month % change. Source: BLSHigher inflation implies stricter economic policy reactions from the Federal Reserve and less liquidity available for crypto and risk assets as a result.
Despite this, Bitcoin bulls showed little interest in slowing a rebound; markets had already priced in a pause in interest-rate changes at the Fed’s January meeting.
“PPI inflation is now up to its highest level since July 2025. The Fed will PAUSE rate cuts in 2 weeks,” trading resource The Kobeissi Letter wrote in an X reaction.
Fed target rate probabilities for Jan. 28 FOMC meeting (screenshot). Source: CME Group FedWatch ToolEarlier, Cointelegraph reported on broad market acceptance of potential macro risk factors, including a potential rejection of US trade tariffs by the Supreme Court.
While a decision was expected on the day, the court ultimately did not release any ruling on the matter. The schedule for rulings is not disclosed in advance.
BTC price: All eyes on $93,500 weekly close
Looking ahead, trader and analyst Rekt Capital said the weekly candle close would be of key importance.
Related: Bitcoin loses to gold as debasement trade with BTC at 2-year lows: Analysis
Successfully flipping the 2025 yearly open at $93,500 to support, he said on the day, would place BTC/USD in a similar situation to previous rebounds.
“Bitcoin is now hovering above $93500, on the cusp of positioning itself for a repeat of November 2024 and April 2025 history (green circles),” he told X followers alongside an explanatory chart.
BTC/USD one-week chart. Source: Rekt Capital/XIn April 2025, BTC/USD briefly dipped below $75,000, again due to tariff-related news, before embarking on a 50% bull run over the following weeks.
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