Bitcoin failed to capitalize on lower-than-expected US CPI data, experiencing a second-day Wall Street sell-off. Traders anticipate BTC/USD to buy time before its next move, with a potential trip below $100,000. Binance’s Richard Teng notes Bitcoin’s “undeniable” momentum against gold and stocks. BTC saw a repeat sell-off at the May 13 Wall Street open despite positive US inflation data. Cointelegraph Markets Pro and TradingView data show BTC/USD heading lower after failing to reclaim $104,000. The US Consumer Price Index (CPI) came in below expectations, with a 2.3% rise over the last 12 months. US stocks opened higher, with the S&P 500 and Nasdaq Composite Index up 0.7% and 1.4% respectively. BTC/USD surfed nearby liquidity levels while traders anticipate fresh volatility. Analysts forecast a potential retest of $102,000 and see BTC maintaining an uptrend even if it drops to $97.5-98K. QCP Capital suggests BTC may trend sideways in the short term due to conflicting narratives. Binance’s CEO believes Bitcoin is leading the pack, outperforming traditional assets like gold and stocks. The article does not provide investment advice, and readers should conduct their research.
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