Key Takeaways:
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Bitcoin’s investment sentiment struck a 7-month height, with a bullish pennant forecasting a rally at $ 115,000.
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CPI print today and the opportunity for a lower-than-anticipated PPI on June 12 can drive a higher BTC price.
Bitcoin (BTC) The price above $ 110,000 was briefly rallied on Wednesday after US Consumer Price (CPI) data came in cooler than expected 2.4% year-year (forecast: 2.5%). The CPI CPI also defeated estimates at 2.8% (forecast: 2.9%). The US Dollar Index (DXY) fell to 98.5, a low multimonth, with markets that quickly organized Federal Reserve’s interest rate expectations.
However, the odds of a federal reserve interest rate next week remain low as the CPI headline rises again for the first time since January 2025.
The general sentiment in the market around Bitcoin is bullish, and a cooler CPI printing can potentially push prices to new highs of over $ 115,000 this week. A price rally can occur on June 12, after the US producer price data (PPI) is released. The US PPI is expected to rise 0.2% month-to-month, with the main PPI to 0.3%.
A lower-than-dependent printing can strengthen the Bitcoin rally by adopting the expectations of Dovish fed in the second half of 2025. A higher expected PPI or a surprise macroeconomic development can lead to pullbacks.
Cointelegraph din reported That Bitcoin closes a new high, reinforced by a modified optimization of a US-China trade deal announced by US President Donald Trump.
The agreement is expected to reduce macroeconomic threats that dragged BTC prices a year-to-date low $ 74,500 in April after Trump’s tariff announcements. This deal, described as “finished” pending final approval, has caused a risk-on mood, with the BTC integration under $ 110,000.
Related: ‘Unique’ Bitcoin Holder Trend Backs BTC’s Next Price Discovery Phase: Glassnode
Bitcoin’s sentiment hits 7-month high
According to the data platform analytics SinglentThe BTC’s bullish sentiment reached a seven -month -old, as positive comments on social media, monitored throughout X and Reddit, have doubled negatives since the win of Trump’s election in November 2024.
Bullish feelings can also be seen at the low rate of BTC funding at a full time price range. Crypto trader Jacob Canfield stated,
“I honestly don’t remember a time where I saw prices rising at these rates and funding rates were completely flat. It usually means that the underlying rallies are often driven by the area. Not sure how we can see the big sale without high market action. It probably means it’s higher.”
From a technical stance, Bitcoin generates a bullish pennant in the 1-hour chart, which signs the potential continuity of bullish. Kamag -child Index Index (RSI) resets close to 50 levels, indicating a healthy cooldown within a higher incidence of integration. Immediate resistance lies at $ 110,000, but a liquidity sweeping around $ 108,000 can occur first, clearing the late long orders and absorbing a solid solid to fuel more.
The measured transfer of Pennant projects is a bullish target of $ 115,000, which aligns with the upper trendline extension. Further price support lies at $ 106,748, with a break below the risk at a collapse at $ 104,900. A speedy recovery from this collapse may enhance BTC’s reversal potential, but BTC should maintain a bullish near the higher time chart.
Related: Bitcoin’s new treasury may crack under price pressure
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
