#CPIWatch ๐ Bitcoin Briefly Hits $112 K After Soft U.S. CPI โ Stocks Set New Highs
Bitcoin surged to about $112,000 today after the U.S. Consumer Price Index (CPI) came in softer than expected, igniting risk-on sentiment. ๏ฟฝ
At the same time, the S&P 500 set fresh record highs on growing expectations that the Federal Reserve will begin cutting interest rates. ๏ฟฝ
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๐ Key Highlights:
Headline and core CPI readings came in about 0.1% below expectations, around ~3 % year-over-year. ๏ฟฝ
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Bitcoinโs quick rally, however, didnโt sustain. After hitting ~$112K, it slipped back below ~$111K as liquidity stayed thin and sellers entered. ๏ฟฝ
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Analysts are watching technical levels: the ~$112K zone is resistance; meaningful support lies near ~$110K-$109K. Closing above the 21-day and 55-day EMAs could matter. ๏ฟฝ
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๐ก Takeaway / Strategy Insight:
This move shows how macro-data (inflation) still heavily influences crypto. The soft CPI boosted risk assets, but Bitcoinโs inability to hold gains suggests caution โ the market is selective, and turning momentum into a sustained breakout will require stronger conviction.
For traders: keep an eye on whether Bitcoin can hold above ~$110K and pushes past ~$112K with volume โ else we may see a retracement or consolidation before the next leg.
#Bitcoin #BTC #CryptoNews #Inflation #CPI #RiskOn
