Bitcoin Rises Amid Volatility as Traders Eye US Inflation Data and Key Technical Levels
Bitcoin (BTC) has rebounded by 1.41% in the past 24 hours, currently trading near $108,000 after experiencing recent volatility that saw it dip to around $100,000. This recovery represents four consecutive days of gains, reflecting improved short-term sentiment. Analysts caution, however, that the market remains structurally fragile and highly sensitive to macroeconomic news. The focus now shifts to upcoming US economic indicators: the Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Friday. These inflation data releases are expected to have a significant impact on Bitcoin’s short-term direction—higher-than-expected figures could suppress risk appetite and trigger selling, while lower-than-forecast numbers may support further upside. Key technical levels to monitor include support at $103,700 and resistance up to $114,800, with deeper supports at $95,600 and $83,200 identified in the event of intensified selling. Overall, Bitcoin’s price action is closely tied to broader economic developments, and traders are advised to track US inflation data for decisive cues. Market sentiment is cautiously optimistic, but rapid changes remain possible as volatility persists.
Neutral
Despite Bitcoin’s recovery from a sharp sell-off and a four-day streak of gains, the market remains highly sensitive to macroeconomic factors, specifically upcoming US inflation data (CPI and PPI). These events are likely to dictate the short-term trend for Bitcoin. While improved sentiment and strong technical support levels signal potential for upward movement, significant resistance and structural fragility leave room for downside risk if economic data disappoints. Traders should expect heightened volatility around the release of inflation numbers, making the outlook neutral until a clear direction emerges.