{"id":21957,"date":"2025-03-12T11:03:49","date_gmt":"2025-03-12T09:03:49","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-tests-local-peaks-above-83000-ahead-of-inflation-index-release\/"},"modified":"2025-03-12T11:03:49","modified_gmt":"2025-03-12T09:03:49","slug":"bitcoin-tests-local-peaks-above-83000-ahead-of-inflation-index-release","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-tests-local-peaks-above-83000-ahead-of-inflation-index-release\/","title":{"rendered":"Bitcoin Tests Local Peaks Above $83,000 Ahead of Inflation Index Release"},"content":{"rendered":"

In the early hours of March 12, the price of the leading cryptocurrency surged to $83,600 before retreating to $82,000. Traders are anticipating the release of data on U.S. consumer price dynamics (15:30 MSK\/14:30 Kyiv).<\/p>\n

At the time of writing, digital gold is trading at $81,450, with daily growth rates reduced to 1.3%.<\/p>\n

\"1-1472\"
15-minute BTC\/USD chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

Ethereum has decreased by 1.7% to $1860. Overall, the top 10 cryptocurrencies by market capitalization show<\/a> mixed dynamics.<\/p>\n

\"2-1044\"
Data: CoinGecko.<\/figcaption><\/figure>\n

The recovery was aided by an improved external backdrop, as U.S. President Donald Trump canceled 50% tariffs on steel and aluminum from Canada.<\/p>\n

Market sentiment may also have been influenced by Senator Cynthia Lummis’s reintroduction<\/a> of a bill to create a strategic Bitcoin reserve.<\/p>\n

In the context of CPI<\/span> data, the market’s focus is on the inflation trajectory and the response of the Fed<\/span>, analysts at Presto Research noted in a comment for The Block<\/a>.<\/p>\n

Standard Chartered pointed out<\/a> the pressure of the overall situation in the risk asset segment on the digital gold rate. Experts linked the potential end of the correction to a monetary policy shift or positive news such as the launch of a crypto reserve in the U.S. and other countries.<\/p>\n

Analysts maintained their previous forecast of digital gold rising to $200,000 by the end of the year<\/a>.<\/p>\n

\n

\u201cBitcoin trades in the group Magnificent Seven<\/span> + BTC, with volatility-adjusted Tesla performing the worst, while Meta and Apple performed the best. The rest are similar to the first cryptocurrency,\u201d<\/em> the review states.<\/p>\n<\/blockquote>\n

The next Fed meeting is scheduled for March 19. Rohit Jain, Managing Director of CoinDCX Ventures, suggested a wave of sales following the expected maintenance of the key rate at its current level. The expert noted a high likelihood of Bitcoin falling to support near $70,000.<\/p>\n

According to CME FedWatch<\/a>, the probability of monetary policy easing at the May meeting is estimated at 42.1%.<\/p>\n

\"3-588\"
Data: CME FedWatch.<\/figcaption><\/figure>\n

Ruslan Lienha, head of markets at YouHodler, expressed concern<\/a> about the current correction. The specialist noted that it could develop into a medium-term bearish trend.<\/p>\n

Former BitMEX CEO Arthur Hayes did not rule out<\/a> a decline in Bitcoin to $70,000 before recovery.<\/p>\n

CryptoQuant CEO Ki Young Ju suggested<\/a> a prolonged consolidation of the asset within a broad range (e.g., $75,000-100,000), as observed in early 2024 before a return to growth.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the early hours of March 12, the price of the leading cryptocurrency surged to $83,600 before retreating to $82,000. Traders are anticipating the release of data on U.S. consumer price dynamics (15:30 MSK\/14:30 Kyiv). At the time of writing, digital gold is trading at $81,450, with daily growth rates reduced to 1.3%. 15-minute BTC\/USD […]<\/p>\n","protected":false},"author":1,"featured_media":21956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1146,1224,1145,1347],"class_list":["post-21957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-macroeconomics","tag-market-analysis","tag-standard-chartered-plc"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21957"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21956"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}