The crypto markets got some breathing room after inflation data came in better than feared, sending Bitcoin (BTC) back above the psychologically important $93,000 mark. When the Consumer Price Index report showed inflation cooling more than expected, risk assets across the board rallied—and crypto was no exception.

Here's where the major cryptocurrencies stood as markets digested the news:

By the Numbers

The rally wasn't entirely smooth sailing. According to Coinglass data, 88,679 traders were liquidated in the past 24 hours, wiping out $189.50 million in leveraged positions. That's what happens when volatility catches overleveraged bets on the wrong side of the trade.

On the institutional front, spot Bitcoin ETFs saw net inflows of $116.7 million on Monday, according to SoSoValue data. Ethereum (ETH) ETFs weren't far behind, recording $5.04 million in net inflows. These steady flows suggest institutional interest remains intact despite the choppiness.

Among altcoins, Dash, Story, and Optimism led the pack as top gainers over the past 24 hours.

What Traders Are Watching

Popular analyst Altcoin Sherpa is staying cautious for now. He doesn't expect Bitcoin to punch through $94,000 immediately and thinks a pullback might come first. He's not eager to open new positions at these levels but remains confident that BTC will eventually climb higher. The big question, he says, is timing rather than direction.

Daan Crypto Trades noted that Bitcoin is stuck in a consolidation range, repeatedly testing its upper boundary. The 4-hour 200-day moving average and exponential moving average are holding as support, keeping the technical structure intact. If those levels crack, he warned that the yearly open remains untested and could become the next target. The key levels he's watching: $84,000 on the downside and $94,000 on the upside.

Ted Pillows pointed to heavy selling pressure between $94,000 and $95,000, where approximately $127.4 million in Bitcoin orders are stacked. If bulls can break through and hold above that zone, it would signal genuine momentum and potentially open the path to higher prices. Until then, that resistance zone acts as a ceiling traders need to respect.

The Bigger Picture

SEC Chair Paul Atkins recently expressed optimism about a crypto market structure bill potentially passing in 2026. Meanwhile, Senator Elizabeth Warren has been pressing the SEC over concerns about Trump's crypto 401(k) plan, citing potential conflicts of interest.

Prediction markets are also heating up, with crypto platforms showing odds exceeding 50% for a U.S. attack on Iran as Washington urged Americans to leave the country immediately. In another speculative corner, Polymarket gives gold an 81% chance of hitting $5,000 before Ethereum reaches equivalent gains, though some analysts dispute that assessment.

For now, crypto bulls have reason to feel cautiously optimistic. The inflation data gave them ammunition, institutional money keeps flowing in, and the technical setup suggests potential upside if key resistance levels give way. But as always in crypto, volatility works both ways.