On May 13, 2025, Bitcoin (BTC) experienced notable fluctuations in value, ranging between $101,065 and $105,525. As of the time of this report, Bitcoin's price was approximately $102,676, down 1.61% from the previous close.
Factors influencing Bitcoin's price
1. Upcoming U.S. economic data
The U.S. Department of Labor is expected to release the Consumer Price Index (CPI) data for April at 8:30 AM Eastern Time. This data is a key indicator of inflation and can significantly impact cryptocurrency markets, including Bitcoin. Binance
2. Large institutional purchases
An investment strategy announced the purchase of 13,390 Bitcoins worth $1.34 billion, raising the average purchase price to about $100,000. This kind of large purchase reflects institutional confidence in Bitcoin as an investment asset. CryptoNinjas
3. Short-term technical fluctuations
Bitcoin failed to maintain the $104,000 level, leading to profit-taking and a short-term technical correction. These fluctuations may continue until the CPI data is released. Cointelegraph
4. Global political and economic impacts
Tariff cuts between the United States and the United Kingdom boosted market sentiment, contributing to Bitcoin's price rising to levels exceeding $100,000. IG
Future forecasts
Forecasts suggest that Bitcoin may experience price fluctuations in the short term, with potential levels ranging between $86,000 and $95,000 in the coming days. However, prices are expected to gradually rise to levels between $120,000 and $135,000 in the coming months, supported by increasing institutional interest and expectations related to the anticipated 'halving' event in 2028. bittimexchange
Summary
While Bitcoin experiences short-term price fluctuations, institutional and economic factors support expectations for its long-term value increase. Investors are advised to monitor upcoming economic data, especially the U.S. Consumer Price Index, to assess its potential impact on the market.
