Looks like Bitcoin ($BTC) is playing it cool above that crucial support level of $90,000. As we gear up for some major events this week—like the US inflation report and the Senate’s discussion on the CLARITY Act—traders are in a wait-and-see mode.

On Sunday, Bitcoin was sitting at $90,590, not far off from this year’s peak of $94,470, and still a comfortable distance above the November low of $80,000. With the Bureau of Labor Statistics set to drop the latest consumer price index data on Tuesday, we might be in for some action. Analysts are anticipating a 2.7% increase in both the headline and core CPI for December.

If inflation surprises on the upside, it could spell trouble for Bitcoin, potentially leading the Fed to keep interest rates elevated for longer. On the flip side, if the report shows a weaker performance, it could open the door for rate cuts down the line—something Bitcoin bulls would love to see.

And don’t forget, we’ve also got Polygon ($MATIC) making waves lately, with its bull run picking up speed thanks to a surge in the POL burn rate.

What are your thoughts on how the upcoming inflation data will affect Bitcoin? Are you leaning towards bullish or bearish? Let's share our insights!

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