$BTC just surged past $105,000, but this rally isn’t moving in isolation. Macro forces are colliding: sticky inflation, tariff tensions with China, and a Federal Reserve keeping markets guessing. #ChinaTradeTensions
Tuesday’s #CPIReport could be the next major spark. Forecasts suggest April CPI might cool slightly to 2.3% (from March’s 2.4%), with Core CPI at 2.8%. But don’t get too comfortable this is the first inflation data that could reflect Trump’s recent tariff push. Any surprises here could tilt the Fed’s tone and markets with it.
Equity markets? Still cautious. S&P saw a mild 1.3% uptick, but rate cut hopes remain slim. CME FedWatch shows <15% odds of a June cut and July? Still uncertain.
Bitcoin’s setup: Despite volatile price action, a bullish MACD cross on the weekly has traders watching closely last time this hit (Oct 2024), $BTC ignited a serious uptrend. Still, $104.5K weekly resistance needs a clean breakout before bulls can take full control. A move above $106K could unlock more upside.
CPI Scenarios to Watch:
≤2.3%: Could revive rate cut hopes, boosting BTC.
>2.4%: Might stall momentum, risk correction.
In line: Likely sideways chop until more clarity.
Sentiment check: Google Trends for “Bitcoin” are quiet. Fear & Greed at 70 still cooler than it was at $94K.
Meanwhile, some memecoins gaining more traction over the last weekend, and this got on the got on Top gainers featuring 10 tokens.
