Bitcoin Price Prediction: As US CPI Inflation Data Overshoots, This BTC Meme Coin ICO Offering Free Bitcoin Rockets Past $1M
The Bitcoin price edged up a fraction of a percent in the last 24 hours to trade at $95,937 as of 02:47 a.m. EST on trading volume that surged 30% to $47 billion. This comes as the US CPI inflation rate accelerated in January, rising 3% on an annual basis, suggesting interest rates are likely to stay higher for longer. Inflation rose 0.5% on a monthly basis, against economists’ forecast for a 0.3% increase. 🚨CPI Inflation comes at 3%, higher than expected. FACT: Fed won't ease unless he sees a 2 in the number. — SWJ❤️ (@SWJGOAT) February 12, 2025 Bitcoin Price Currently Testing Support The BTC price has shown a strong bullish run from October to early December, breaking above the 50-day and 200-day Simple Moving Averages (SMAs). This uptrend, marked by the sharp green arrow on the chart, saw price action push into a consolidation zone (highlighted in purple) between approximately $92,000 and $105,000. However, after reaching a peak near $1...