Bitcoin passes $69K on slower US CPI print, but Fed rate-cut odds stay low

💡 DMK Insight

Bitcoin’s recent bounce to $69,000 is more than just a relief rally; it signals potential bullish momentum. The soft US CPI inflation data has eased some macroeconomic fears, allowing traders to speculate on a higher low formation for BTC. This is crucial because if Bitcoin can hold above this level, it could attract more institutional interest, especially as we approach year-end. Keep an eye on the $68,000 support level; a solid hold here could lead to a retest of previous highs. But here’s the flip side: if BTC fails to maintain this momentum, we might see a quick reversal, which could trigger stop losses and further selling pressure. Watch for volume trends and any shifts in sentiment from major players. If we see increased buying volume above $69,000, it could confirm bullish sentiment. Conversely, a drop below $68,000 would raise red flags for short-term traders. Timing is everything, so monitor these levels closely as we head into the weekend.