$BTC
Sudden Drop: After Bitcoin touched the $105,800 level on May 12, it fell to around $101,000 during the New York trading session, leading to the liquidation of long positions worth approximately $700 million.
• Market Tension: Investors are awaiting the Consumer Price Index (CPI) data in the United States, increasing uncertainty and affecting trading decisions.
• Regulatory Effects: Arizona's rejection of bills related to cryptocurrencies contributed to increased negative pressure on the market.
Outlook:
• Technical Movements: Chart analysis shows that Bitcoin may face resistance at the $106,000 level, which is considered a potential profit-taking point before attempting to reach new highs.
• Future Optimism: Despite the current decline, some analysts suggest that the market pattern may drive Bitcoin towards the $150,000 level if the upward trend continues. $BTC
