$BTC Bitcoin fails to return to USD 104,000 or more despite a possible inflationary tailwind and multiple liquidity acquisitions in the last 24 hours.

Key Points:

Bitcoin failed to capitalize on the lower-than-expected U.S. CPI data, causing a sell-off on Wall Street for the second day.

Traders believe the BTC/USD pair is biding time before its next move, with a trip below USD 100,000 anticipated.

Bitcoin is showing 'undeniable' momentum against gold and stocks, claims Richard Teng from Binance.

Bitcoin

BTC

€93,570

experienced a new wave of selling at the Wall Street open on May 13, as bears ignored positive U.S. inflation data.

The price of BTC stagnates after the cooling of CPI inflation.

Data from Cointelegraph Markets Pro and TradingView showed that the BTC/USD pair dropped again after failing to reclaim USD 104,000 as support.

The drop occurred despite the April Consumer Price Index (CPI) print from the U.S. coming in below expectations, which should have been good news for risk assets.

"The all-items index rose 2.3% for the 12 months ending in April, after increasing 2.4% for the 12 months ending in March," confirmed an official statement from the U.S. Bureau of Labor Statistics (BLS).