Bitcoin (BTC) faces another sell-off in the stock market, despite the reduced US inflation data. Analysis shows that BTC/USD may encounter new challenges.
Bitcoin Decline Amid CPI Data
According to data released by Cointelegraph, Bitcoin fell again following the Wall Street open on May 13. This occurred despite positive news on US inflation, where the Consumer Price Index (CPI) was below expectations. Official data showed a 2.3% increase over 12 months, the smallest increase since February 2021.
Current Dynamics and Expert Opinions
At the time of writing, the S&P 500 and Nasdaq indices were seeing gains. Analysts like Daan Crypto Trades noted that current liquidity levels in the market might lead to new volatility. Many traders believe BTC/USD could return to support levels below $100,000 in the near term.
Bitcoin's Market Positioning
Binance CEO Richard Teng highlighted that Bitcoin continues to show strong performance relative to traditional assets like gold and stock indices. He pointed out that BTC had seen double-digit growth, reinforcing its status as an alternative asset.
Amid current market fluctuations, Bitcoin remains in the spotlight. Its dynamics suggest that the cryptocurrency market is experiencing both pressure and growth potential.
