"US CPI is the Main Concern, Experts Predict Bitcoin to Break Through $112,926"
US CPI data on December 11 is the key to the direction of the crypto market movement this week.
Bitcoin is predicted to break through $112,926, if market sentiment remains positive after the CPI announcement.
Based on today's Bitcoin predictions, altcoins will also follow the positive trend with a significant increase.
Crypto Market Awaits US Inflation Data on December 11
The United States Consumer Price Index (CPI) data to be released on Wednesday, December 11, is the main focus of the crypto market this week.
The chart shows Bitcoin is currently at $99,413 with a daily decline of 0.67%, reflecting the cautious mood of investors ahead of the CPI announcement.
The CPI data will provide an overview of the US inflation rate, which could affect the Fed's interest rate policy and, in turn, the digital asset market.
Experts Predict Bitcoin to Hit $112,926
Experts believe that Bitcoin could hit $112,926 if market sentiment remains positive after the CPI data release.
The chart shows that Bitcoin dropped to $98,657 in the last 24 hours before recovering, indicating that the $98,000-$100,000 level remains strong support.
If US inflation is lower than expected, the market could react with a surge in Bitcoin prices due to potential monetary policy easing.
Altcoins Also Rise on Positive Market Sentiment
Altcoins such as Ethereum and Solana are also expected to gain momentum if the CPI shows results that support the crypto market.
The chart shows that Bitcoin trading volume reached 17,121 BTC in the last 24 hours, indicating a lot of interest in the major market that could spread to altcoins.
Positive sentiment from Bitcoin usually leads to a rise in major altcoins, so investors are expected to monitor the overall market reaction.
