After the CPI data was released with positive results, the Bitcoin market reacted with a fairly rapid price increase. However, this excitement did not last long as $BTC once again faced strong corrective pressure. The familiar scenario continues to repeat: good news comes out, the price rises, and then immediately after that, there is a decisive pullback.
At this moment, it is very clear that the $88,000 mark is the most important boundary for Bitcoin. This is not just a technical price level, but also a 'psychological door' that the market must break through if it wants to form sustainable upward momentum. As long as $BTC cannot hold above this area, every recovery below is fragile and easily sold off.
In addition to technical factors, the event that investors are particularly focused on this week is the meeting of the Bank of Japan (BoJ). History shows that movements from the BoJ often create strong reactions in global financial markets, and this time is no exception. The anticipation and concern surrounding this event are making capital flows more cautious.
Notably, while the Nasdaq is rising sharply, gold prices are almost unaffected, Bitcoin has dropped again, dragging the entire crypto market down. This clearly reflects the fear sentiment of cryptocurrency investors in the face of the risk of continued interest rate tightening – even though this scenario is almost 'common knowledge'.
In summary, Bitcoin is caught between positive macro data and concerns over monetary policy. As long as $BTC has not conquered the 88,000 USD mark, the market will continue to be volatile, turbulent, and full of challenges for those who lack patience.
