After the release of CPI data, Bitcoin investors remain cautious, with diverging confidence between buyers and sellers
This week, Bitcoin has been caught between sustained buying and short-term cautious sentiment.
The U.S. CPI overall met expectations, but core inflation on a monthly basis came in above forecasts, intensifying worries about rising interest rates. After the data was released, BTC fell to about $76,700, rebounded to around $80,000, and then slipped back to the $77,000 range. The deeper issue lies in the gap between long-term demand and near-term selling pressure. U.S. spot Bitcoin ETFs have seen three consecutive weeks of net inflows, and companies and long-term investors have continued accumulating. However, spot demand has been weak: Binance’s BTC reserves hit a two-year high, derivatives selling pressure has increased, and positions have not declined sufficiently. Investors have shifted from chasing FOMO to avoiding losses. Stablecoin liquidity and signs of Coinbase buying suggest demand has not disappeared, but buyer and seller confidence remains split. The macro environment is still dominant; rising oil prices, elevated bond yields, and inflation concerns may constrain additional liquidity.
This week, Bitcoin has been caught between sustained buying and short-term cautious sentiment.
The U.S. CPI overall met expectations, but core inflation on a monthly basis came in above forecasts, intensifying worries about rising interest rates. After the data was released, BTC fell to about $76,700, rebounded to around $80,000, and then slipped back to the $77,000 range. The deeper issue lies in the gap between long-term demand and near-term selling pressure. U.S. spot Bitcoin ETFs have seen three consecutive weeks of net inflows, and companies and long-term investors have continued accumulating. However, spot demand has been weak: Binance’s BTC reserves hit a two-year high, derivatives selling pressure has increased, and positions have not declined sufficiently. Investors have shifted from chasing FOMO to avoiding losses. Stablecoin liquidity and signs of Coinbase buying suggest demand has not disappeared, but buyer and seller confidence remains split. The macro environment is still dominant; rising oil prices, elevated bond yields, and inflation concerns may constrain additional liquidity.
