Bitcoin price stayed range-bound, trading between $91,200 and $91,400 as investors awaited the US Consumer Price Index (CPI) release. Ethereum remained above $3,100, while Solana hovered near $140. Outside crypto, gold grabbed attention, holding above $4,600 at record highs, reflecting growing uncertainty ahead of inflation data.
U.S CPI Data Today Set to Drive Crypto Market
The CPI report will be out at 13:30 UTC and is expected to influence short-term price action across cryptocurrencies and other risk assets. Analysts see it as the key factor shaping market sentiment this week.
The Bitcoin price today will largely depend on the CPI outcome. Current expectations are 2.7% year-on-year for both headline and core inflation. Traders are pricing a 60% chance of a dovish result and a 40% chance of a hawkish surprise.
Bitcoin Price Prediction Ahead of CPI Report Release
Bitcoin remains above $90,000, a level that has become a major accumulation zone for large holders. On-chain data shows whales added over 56,000 BTC since mid-December, even as retail investors sold during consolidation.
Technically, Bitcoin is trading within a tight Bollinger Band compression, a setup that often precedes strong price moves. The coin is also above its 50-day and 200-day moving averages, signaling overall trend strength.
Derivatives data shows neutral funding rates and normalized open interest, suggesting the market is ready for momentum-driven moves once a clear direction emerges.
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BTC Price Key Resistance and Support Levels
Widodo identifies $93,997 as a key resistance level. A daily close above this could push Bitcoin toward $94,250–$95,000. If the price fails to break this level, downside risks could appear, with potential support around $90,600 and $88,000.
- Dovish CPI: Bitcoin could rise to $92,800–$93,200 before testing major resistance. A confirmed breakout may trigger over $350 million in short liquidations, accelerating a move toward $95,000.
- Hawkish CPI: Bitcoin may drop below $90,000, possibly leading to long liquidation down to $88,000. Analysts suggest this period could still set up a relief rally later in the month.
CPI results can quickly move large sums in crypto markets. Rising political tensions between former President Donald Trump and Fed Chair Jerome Powell may also fuel sudden price swings, even if CPI meets expectations.
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FAQs
The US CPI report will be released at 13:30 UTC today, and its results are expected to influence short-term crypto and market trends.
Bitcoin often reacts to CPI data as it signals inflation trends, influencing investor sentiment and potential short-term price volatility.
A dovish CPI may push Bitcoin to $92,800–$93,200, easing selling pressure and possibly triggering short liquidations toward $95,000.
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