 Bitcoin price nears $100K as US dollar dips on CPI relief 
2025-01-15
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Bitcoin BTCUSD hit weekly highs around the Jan. 15 Wall Street open as fresh US macro data calmed market nerves over inflation.
Bitcoin rises with stocks as CPI hits target
Data from Cointelegraph Markets Pro and TradingView showed BTCUSD nearly reaching $100,000 on Bitstamp.
Up 3% on the day and over 10% versus two-month lows seen on Jan. 13, Bitcoin made traders confident that the worst of the short-term price downside was over.
BTC price strength accompanied the December print of the US Consumer Price Index (CPI), which met expectations. Like the Producer Price Index (PPI) the day prior, the release showed that inflation, while still rising, was not providing extra surprises.
“$BTC Good CPI print. Should clear the inflation fear narrative for a bit,” popular trader Daan Crypto Trades wrote in part of a reaction on X.
Daan Crypto Trades noted that US dollar strength was decreasing in step with rising risk assets, while BTCUSD was challenging a downtrend since all-time highs in mid-December.
Continuing, fellow trader and analyst CRYPTOBIRB suggested that the head and shoulders reversal pattern currently playing out on daily timeframes could soon be invalidated.
“Head & shoulders continuation squeeze continues,” he told X followers. 

Some remained cautious, with trading firm QCP Capital warning that a fresh retest of $90,000 support may still occur.
“Expect heightened volatility before and after the inauguration as markets digest and adjust to a new term under Trump,” it advised Telegram channel subscribers on the day, referring to the incoming US government administration under President-elect Donald Trump. 
Bollinger Bands hint at BTC price volatility to come
Further anticipation of volatility came from longtime market commentator Matthew Hyland.
Examining the Bollinger Bands volatility indicator, Hyland noted that its two constituent bands were at their narrowest in a year.
Bollinger Bands tend to preclude more erratic BTC price moves both up and down, with the current observation on 3-day timeframes.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.