Can Bitcoin Price Hit $100k as US CPI Meets Wall Street Expectations?

Key Insights:

• Bitcoin price action recorded a 2.54% surge over the last 24 hours as US CPI inflation data boosted market optimism.
• The price increase followed the release of US CPI data that matched earlier economic forecasts.
• Trader Daan Crypto Trades noted that the recent price chop has created solid liquidity on both sides. As per his post on X, key levels to keep tabs on include $92,600 to $94,000 on the upside.
• Ali_charts predicted a break above $94,555 would likely propel Bitcoin price to $105,000.

Bitcoin price action recorded a 2.54% surge over the last 24 hours following the release of US CPI data that met earlier economic forecasts. The consumer price index (CPI) reached 2.7% over the past year in December.

On Truth Social, Trump described the current inflation figures as strong and urged Fed Chairman Jerome Powell to cut interest rates sharply.

Bitcoin Price Prediction: Expert Predicts Bitcoin Price Will Hit $105,000

Bitcoin is hitting an important resistance level, according to crypto analyst Ali_charts.

On the 12-hour chart, the BTC USD price is just under $94,555. This level has stopped Bitcoin/USD from moving higher several times in the past. With each attempt to break out, facing fierce resistance

Commentator Exitpump highlighted two volume-weighted average price (VWAP) trendlines forming a significant resistance zone.

VWAP shows the average price over a period, weighted by trade volume, giving a sense of where buyers and sellers are concentrated.

Trader Daan Crypto Trades noted that the recent price chop has created solid liquidity on both sides. As per his post on X, key levels to keep tabs on include $92,600 to $94,000 on the upside as well as $88,700 to $89,800 on the downside.

Meanwhile, according to Ali_charts, Bitcoin price needs to close above $94,555 on the 12-hour chart. If that happens, the price could push as high as $105,921. However, expect sideways trading as buyers consolidate for more control of the trend.

Another top expert on X also shared his prediction. Ted Pillows said Bitcoin price action succeeded in breaking through the key resistance at $92,000.

He noted that the cryptocurrency had attempted about eight or nine times to break past that level. As per his analysis, BTC USD needs to hold above $90,000 before it can make its next big move.

Bitcoin Price Rises on US CPI Data

According to TradingView, Bitcoin price posted a 2.54% uptick over the last 24 hours after the latest US inflation data came in as expected.

Markets reacted quickly. US stocks jumped, with the S&P 500 hitting new all-time highs. BTC USD also moved higher, as investors saw the steady inflation numbers as a sign that riskier assets could keep rising.

The Kobeissi Letter noted that both headline and core CPI stayed flat in December. The report also highlighted rising tension between the US government and the Federal Reserve, with analysts closely watching any policy moves.

December’s CPI shows that inflation is steady, easing worries that Trump’s tariffs might push prices higher. New York Fed President John Williams had said the November data could be unreliable because of the government shutdown. The December numbers, however, show no signs of prices rising faster.

Even with this, the Fed is expected to keep interest rates the same. CME FedWatch data show a 95% chance that rates will stay unchanged in January. There’s only a small 5% chance of a 0.25% rate cut, after three cuts last year.