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Home»Altcoins»Bitcoin recovers above $97K before CPI release – what to expect
Altcoins

Bitcoin recovers above $97K before CPI release – what to expect

2025-01-15No Comments4 Mins Read
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This article is available in Spanish.

Bitcoin has started the week with notable volatility, demonstrating the unpredictability of the market. After a sharp 6% decline that took the price to a new low around $89,100, BTC staged an impressive recovery, surging 9% to regain the $97,000 level. This rapid recovery highlights both Bitcoin’s resilience and cautious sentiment among investors navigating uncertain market conditions.

Related reading

The crypto market is now turning its attention to the current Consumer Price Index (CPI) report, a key economic indicator that will provide insight into inflation trends. Expectations are leaning toward a potential rise in inflation, a scenario that could strongly influence Bitcoin’s price trajectory as investors assess its role as a hedge against economic instability.

Top analyst Jelle weighed in on current market dynamics and shared a technical analysis that suggests Bitcoin will likely encounter “bumpy conditions” for a while before finding a smoother path higher. According to Jelle, the current consolidation phase could pave the way for a bullish continuation once inflation rates and market reactions calm down.

With Bitcoin hovering near critical resistance levels, the outcome of the CPI report will be crucial in determining whether BTC can continue its recovery or face renewed pressure. Investors are preparing for a dynamic day ahead.

Bitcoin builds momentum amid volatility

Bitcoin is starting to spark bulls as recent price action signals potential strength. The cryptocurrency has exhibited a classic trend reversal pattern characterized by high volatility, significant trading volume, and quick flash crashes followed by quick recoveries. This combination of factors often precedes major price moves, and many investors are now becoming optimistic about Bitcoin’s prospects.

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With the Consumer Price Index (CPI) report due to be released later today, market participants are preparing for a volatile session. The report, which provides insight into inflation trends, could strongly influence Bitcoin’s price trajectory.

Top analyst Jelle shared a technical analysis on X and highlighted that Bitcoin’s recovery of the $97K level is a promising development. While he expects volatility to continue once the report is released, Jelle remains confident that BTC will continue to rise in the coming weeks.

Bitcoin demands $97K back | Source: Jelle on X
Bitcoin demands $97K back | Source: Jelle on X

Adding to the uncertainty is the broader macroeconomic backdrop. As President-elect Donald Trump prepares to take office on January 20, the market is facing a mix of fear and uncertainty. This political transition has increased investor caution, further influencing Bitcoin’s movements.

Related reading

Despite these challenges, the resilience Bitcoin has shown in recent days strengthens the bullish case. If BTC continues its upward trajectory, it could pave the way for substantial gains as economic and political events unfold in the coming weeks.

Price remains close to $97,000

Bitcoin is trading at $97,000, following an impressive 9% recovery from the recent low of $89,164. This rise demonstrates renewed bullish momentum, but BTC now faces a crucial challenge as it tests the 4-hour 200 moving average at $97,400. This technical indicator is often seen as an important measure of short-term strength and trend direction.

BTC tests the 4H 200 MA | Source: BTCUSDT chart on TradingView
BTC tests the 4H 200 MA | Source: BTCUSDT chart on TradingView

A successful recovery and stabilization above this level could act as a springboard for Bitcoin to reach and possibly surpass the psychological milestone of $100,000. Such a move would likely further fuel market optimism and strengthen the narrative of a resumption of a strong bullish trend.

See also  Bitcoin: Why $67,400 has become an important level for BTC

Related reading

However, the situation remains fragile. Losing support at $95,500 could signal a weakening of bullish momentum and open the door for a deeper correction. In that case, Bitcoin could retest zones of lower demand, which could shake investor confidence and extend the current consolidation phase.

Featured image of Dall-E, chart from TradingView

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97K Bitcoin CPI Expect Recovers release
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