$BTC Bitcoin failed to capitalize on the U.S. consumer price index data that came in below expectations, leading to heavy selling on Wall Street for the second day.
Traders see a buying opportunity in the Bitcoin/USD pair before its next move, and it is expected to drop below 100,000 USD.
Richard Teng from Binance says that Bitcoin shows "undeniable" momentum against gold and stocks.
104,705 USD
The Bitcoin/USD price experienced repeated heavy selling at the Wall Street opening on May 13, as pessimists ignored positive U.S. inflation data. A chart for the Bitcoin/USD pair for one hour. Source: Cointelegraph/Trading View
Bitcoin's price stabilizes after a slowdown in consumer price index inflation.
Data from Cointelegraph Markets Pro and Trading View showed that the Bitcoin/USD pair is trending down again after failing to regain the support level of 104,000 USD.
The decline came despite the U.S. consumer price index reading for April being below expectations, which is expected to be good news for risk assets.
An official statement from the U.S. Bureau of Labor Statistics (BLS) confirmed that "the all-items index rose by 2.3% over the twelve months ending in April, after rising by 2.4% over the twelve months ending in March."
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