$BTC Bitcoin is currently trading around $90,644.22, with a 0.08% decrease in the last 24 hours. The cryptocurrency market is experiencing a consolidation phase, with traders awaiting key US inflation data and signals from the Federal Reserve. Bitcoin's price movement is being influenced by macroeconomic factors, including expectations of interest rate changes and global risk sentiment ¹.
🔥*Recent News:*
- Bitcoin's price has been range-bound above $90,000, with analysts predicting a breakout. Some predict a potential surge to $100,000, while others caution about a possible decline to $84,000.
- Geopolitical tensions, such as the situation in Venezuela, have contributed to Bitcoin's "safe-haven" narrative, driving its price up 8% to $93,000.
- Institutional investors have shown resilience, with $471 million in net inflows to spot ETFs, despite some short-term profit-taking.
- Analysts expect Bitcoin's price to remain volatile, with some predicting a mid-year rebound and others forecasting structural challenges ² ³ ⁴.
*Market Sentiment:*
- The Fear & Greed Index has exited the extreme fear zone, moving to a neutral position, indicating a slight improvement in market sentiment.
- Whale activity on exchanges has increased, which could signal potential price volatility ³ ⁴.
*Follow-up Questions:*
- What are the key factors driving Bitcoin's price movement in the short term?
- How might the upcoming US inflation data impact Bitcoin's price?
- Can Bitcoin sustain its current price level, or is a further decline likely?
