Following the recent US CPI and PPI data, cryptocurrency market remains highly dynamic, requiring investors to interpret key data for informed decisions. The realized price of new whales at $91.2K establishes a robust support level. Especially as these investors have shown resilience in maintaining their positions.
This strengthens BTC’s consolidation on the charts, while also reducing sell-side pressure and providing stability in a volatile market. Although, The leading market indicator, MACD underlined bearish momentum with a sign of sellers dominance.
However, if BTC holds above $95k level, traders may gain confidence, leading to a possible price stabilization or hitting $110k in short term. While fluctuations persist, a relative balance with a slight preference for long positions means cautious optimism across the market.
As of now, at the time of writing this article, BTC is being traded around $95,900 on leading CEXs and holds a market capitalization of $1.91 Trillion and has recorded a price growth of 0.3% in the last 24 hours.