"BTC Pulls Back as Market Awaits CPI Data"
Bitcoin saw a strong rally recently, breaking above $105,000, but the momentum didn’t last long.
After reaching new local highs, $BTC slipped below $103,000 as traders began locking in profits. The pullback comes just ahead of the U.S. Consumer Price Index (CPI) report—an economic indicator that could shape interest rate decisions and market sentiment.
While new retail buyers continue entering the market, on-chain data shows experienced traders are staying cautious. This signals possible sideways movement in the short term as the market waits for clarity.
For now, all eyes are on the CPI release and its ripple effects.