CPI Data Triggers Bitcoin : $100k Or $90k?
The U.S. CPI has just risen to 2.9%, and the market is already feeling it. Inflation is climbing again and Bitcoin is showing strength, at least for now. As always, macroeconomic trends are at play. As interest rates rise, investors will take less and less risk, but right now Bitcoin is in full swing.
Bitcoin breaks resistance
Currently, Bitcoin price is hovering between $96,000 and $97,000. Not bad, right? this consumer price index Data drops, Bitcoin surges. The market seems eager to react. But here’s the big question: Will it break $99,500, or will it slow down?
The technical picture shows a breakthrough. The RSI is already above 70. It’s in “overbought” territory, which sounds scary. But with such momentum, who knows? Some are even talking about forming a golden cross if Bitcoin breaks through $100,000. This is usually a good sign for bulls. However, if the market suddenly turns around, we should be prepared to see a massive liquidation in the market.
Greed is taking over
The fear and greed index is 70 – pure greed. It shows. Whale activity is crazy right now. In just four hours, $103 million worth of short positions were liquidated. Even a $16 million long position isn’t safe. This market is ruthless.
But let’s be honest, that optimism could backfire at any time. This rally may stall if the $99,500 resistance level holds. Traders tend to enter the market as soon as they see a move. However, sometimes they fail to calculate the likelihood of adverse market behavior.
What’s next?
Here’s the thing. If Bitcoin maintains this energy, $100,000 is not just a dream, it is there. But if this resistance zone holds, we could see a pullback. Regardless, this CPI report proves that macro trends still rule the cryptocurrency world.
So, what do you think? Will Bitcoin eventually hit $100,000? It feels very close. Let’s wait and see.
