$BTC Bitcoin recently surged to a high of $105,525 but has since retraced to its current level. This pullback is attributed to profit-taking and cautious sentiment ahead of the U.S. Consumer Price Index (CPI) data release scheduled for today.
Despite the short-term dip, institutional interest remains strong. A notable example is Strategy's acquisition of 13,390 BTC for $1.34 billion, pushing its total holdings close to $40 billion. Such significant investments underscore confidence in Bitcoin's long-term potential.
🔮 Potential Scenarios Ahead
Bullish Breakout: If BTC surpasses the $105K resistance, it could target the $110K mark, aligning with predictions of reaching new all-time highs post-consolidation.
Bearish Pullback: Conversely, failure to maintain support above $100K may lead to a decline towards the $95K–$98K range, especially if CPI data indicates higher inflation, prompting risk-off behavior.
