The post CPI Data Triggers Bitcoin : $100k Or $90k? appeared first on Coinpedia Fintech News
The U.S. CPI just rose to 2.9%, and the market is feeling it. Inflation’s creeping up again, and Bitcoin is showing strength, at least for now. As usual, macroeconomic trends are doing their thing. With the rates going up, investors would take less and less risk however for the time being btc is on fire.
Bitcoin Smashes Through Resistance
Right now, Bitcoin is hanging out between $96,000 and $97,000. Not bad, right? The CPI data dropped, and Bitcoin shot up. It’s like the market couldn’t wait to react. But here’s the big question: will it break $99.5k, or is this where the party slows down?
Source : Tradingview
Technicals are pointing to a breakout. The RSI is already above 70. It’s in the “overbought” zone, which sounds scary. But with this kind of momentum, who knows? Some are even talking about a golden cross forming if Bitcoin cracks $100k. That’s usually a goo
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