Bitcoin Market is preparing for a shocking consumer price index, but the hopes for recovery grow
Bitcoin market dynamics may witness a remarkable transformation after the US Consumer Prices Index data (CPI) is released. while American CPI data version It is likely to lead to volatility in the public encryption market, Bitcoin can still see its price is moving again.
Transfer to Bitcoin to the upward trend soon?
Negntropic, market expert and co -founder of the Glassnode Data platform in X Publishing Search The Bitcoin price is followed after the issuance of CPI data in the United States.
The expert pointed to a possibility Bitcoin To experience price recovery, amid increased volatility expected to cause the event. “The CPI version in the United States today will turn to the markets. It is expected that there will be more, but any surprise can shake things.”
Historically historically historically in the market’s reaction sharply with investors evaluating inflation patterns and how they affect them Federal Reserve Policy. Although there may be a short -term uncertainty, the BTC general market structure appears to be intact, as the expert determines the decisive support levels that may help in the apostasy.
currently, Bitcoin price It holds strong at the level of 95,000 dollars. However, Negntropic highlighted that the additional decrease to 94,000 dollars and $ 92,000 of price will allow the original to capture liquidity.
If this step is turned on as expected, Bitcoin can witness a reflection of the upward trend to $ 97,000 and 98,500 dollars. According to the analyst, BTC should restore this price range before it can gather towards the teacher of $ 100,000.
The experienced expert appears to be confident of BTC’s transition to $ 100,000 in the short term. One key Backup factor His faith is the transformation of the system. This scale shows that the original may have found a bottom before the gathering to $ 100,000.
Moreover, Negentropic pointed out that even with a re -test of $ 95,000, the volatile price procedures will continue in the coming days. However, it claims that BTC probably enhances its transition to a bullish quad, as long as this region remains strong support.
Sell the pressure to hinder the upward BTC step
while BTC It is preparing to move to the level of $ 100,000, the original may face challenges like strong pressure. Intotheblock market intelligence platform I mentioned 1.6 million addresses previously bought 1.57 million BTC at an average price of 97200 dollars, establishing a level of resistance.
With Bitcoin’s trading lower than the level, these bearers are confused, which may make them sell their currencies close to the tie point. Since the uncertainty in the market is increasing Increase the sale pressureThus, the complexity of any clear upward outbreak of BTC.
Distinctive image from Unsplash, Chart from TradingView.com
