BTC slips below $103,000 as traders lock in profits ahead of US CPI

Santiment data shows traders are taking profits ahead of the US CPI release.

Bitfinex analysts suggest that if macro conditions stay favorable, short-term dips may be quickly absorbed, keeping BTC’s bullish outlook intact.

Bitcoin (BTC) extends its decline on Tuesday, slipping below $103,000 at the time of writing as traders book profits following last week’s over 10% rally. The move comes ahead of the release of the US Consumer Price Index (CPI) data for April, which could bring volatility into risky assets like BTC. Despite the short-term decline, a report from Bitfinex analysts suggests that if macro conditions stay favorable, short-term dips may be quickly absorbed, keeping BTC’s bullish outlook intact