Bitcoin's next move after the CPI data release depends on the inflation rate. Here are some possible scenarios ¹:

- Cooler-than-expected inflation (2.3% or below): Bitcoin could rally toward new all-time highs, potentially driven by expectations of a Fed rate cut. This might push the price above $106,000, with some analysts predicting a surge to $110,000 or beyond.

- Higher-than-expected inflation (above 2.4%): A hotter CPI reading could signal persistent inflation, dampening hopes for a Fed rate cut. This might trigger consolidation or even a short-term dip in Bitcoin's price.

- *CPI in line with expectations*: If the CPI comes in as expected, Bitcoin might stay steady in the short term, with investors waiting for further clarity before making big moves.

It's worth noting that ²:

- *Bullish fundamentals remain strong*: Despite the recent correction, on-chain metrics suggest a broader uptrend, with strong ETF inflows and corporate treasury announcements supporting institutional adoption.

- *Technical indicators*: A bullish MACD cross on the weekly chart signals potential upside, but Bitcoin needs to break above $106,000 to confirm the uptrend.

Given the current market volatility, traders should be cautious, as the CPI data release could introduce further fluctuations in the crypto market ³.