key takeaways:
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The bitcoin investor sentiment hits at a height of 7 months, with a rapid penhant a rally forecasting $ 115,000.
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Today’s CPI print and on June 12 can drive more than BTC price for the least preferred PPI.
Bitcoin (BTC) The US Consumer Price Index (CPI) figures increased by 2.4% year-over year-year (2.5%) over $ 110,000 at a price of above $ 110,000 on Wednesday after coming into cooler. The core CPI also defeated estimates at 2.8% (forecast: 2.9%). The US Dollar Index (DXY) 98.5, with a multimontical low,, with a rapid adjusting the expectations of the Federal Reserve’s interest rate, decreased a multimonha.
However, next week the possibility of cutting a Federal Reserve Interest Rate is low as the headline CPI is growing again for the first time since January 2025.
The spirit of the overall market around bitcoin is faster, and a cooler CPI print may potentially push prices at a new high level above $ 115,000 this week. The US manufacturer Price Index (PPI) may have a price rally on June 12 after the data is released. The US PPI is expected to increase 0.2% month-maiden, with the core PPI 0.3%.
A at least expected print can increase the bitcoin rally by strengthening the dowish fed expectations in the second half of 2025. A high-to-applied PPI or a stunning macroeconomic development can cause pullbacks.
Cointelegraph too Informed This bitcoin is closing on a new high by renewed optimism on an American-China trade deal declared by US President Donald Trump.
The agreement is expected to reduce macroeconomic hazards, which pulls BTC prices in April for less than $ 74,500 after Trump’s tariff announcements. The deal, described as the “made” pending the final approval, has provoked a risk-trans-mood, with BTC consolidated under $ 110,000.
Related: ‘Unique’ bitcoin holder Trend Back BTC’s next value discovery phase: Glasanode
Bitcoin spirit is at a height of 7 months
According to data analytics platform SatisfactionBTC’s feeling of boom reached a height of seven months, as as positive social media comments tracked in X and Redit, negative people have been doubled since Trump’s election victory in November 2024.
Rapid spirit is also reflected at an all -time high price range in low funding rate of BTC. Crypto merchant jacob canfield Said,
“I honestly don’t remember a time where I have seen prices and funding rates are being completely flat. It usually means that the underlying rallies are mostly spots. It is not sure that we are going to see Big Sale Off without a high fashion in the market. It is most likely that it means more.”
From a technical point of view, bitcoin is making a rapid penette on a 1-hour chart, indicating potentially rapid continuity. The relative power index (RSI) is resetting near 50 levels, indicating a healthy coldness within a high consolidation range. Immediate resistance is located at $ 110,000, but a liquidity sweep can be around $ 108,000, which cleanss late long orders and absorbs the liquidity to give the liquidity and inverted fuel to sell.
The measured gait of the penette has a rapid target of $ 115,000, aligning with the upper trendline extension. The additional price support is located at $ 106,748, with a decline with a decline to a decline of $ 104,900. A sharp recovery from this drop can increase the reversal capacity of BTC, but BTC will have to maintain close to a fast on a high time chart.
Related: New bitcoin can crack under treasury price pressure
There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
