1 month ago
Bitcoin is apt consolidating earlier its adjacent upward push, traders agree, portion the macro representation looks tricky for hazard assets arsenic the Fed stays hawkish.
Key points:
Bitcoin continues to scope astir $103,000 arsenic bulls conflict to support upside momentum going.
Traders favour short-term BTC terms gains yet returning, portion wide religion successful the bull marketplace varies.
Fed complaint cuts look progressively acold disconnected contempt encouraging ostentation data.
Bitcoin (BTC) hugged acquainted territory astir the May 14 Wall Street unfastened arsenic traders awaited caller US macro cues.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewTrader: BTC needs $108,000 reclaim for breakout
Data from Cointelegraph Markets Pro and TradingView showed $103,000 remaining a BTC terms magnet.
Bulls had managed different travel to $105,000 the time prior, with momentum nevertheless lacking aft brisk gains passim the archetypal fractional of the month.
Now, traders eyed consolidation anterior to a instrumentality to volatility, with predictions favoring further upside.
— Phoenix (@Phoenix_Ash3s) May 14, 2025“Even though $BTC looks large IMO, I inactive basal by the information that it astir apt moves sideways from present for a while, which would astir apt beryllium large quality for alts tbh,” fashionable trader Byzantine Trader wrote successful 1 of his latest posts connected X.
“If BTC remains calm, past alts tin bash their ain happening for a bit.”
BTC/USDT 4-hour chart. Source: Byzantine General/XDespite seeing the Bitcoin bull marketplace unwinding sooner alternatively than later, chap trader Roman agreed that higher highs would travel first.
“Looking for much upside if we tin proceed to consolidate present arsenic consolidation = continuation of trend. Yes my macro views judge the $BTC bull is adjacent to implicit but there’s inactive immoderate country for abbreviated word upside,” helium told X followers.
“Break 108 absorption and 120 is possible.”Market complaint chopped likelihood “adjusted” aft CPI
Macro influences were little pronounced connected the time acknowledgment to a spread successful US ostentation information releases.
Related: BTC bulls get 'biggest signal' — 5 things to cognize successful Bitcoin this week
The time prior, a lower-than-expected Consumer Price Index (CPI) people had failed to spark a caller crypto rally, with eyes present connected the Producer Price Index (PPI) numbers owed connected May 15.
Commenting, trading steadfast QCP Capital stressed that the Federal Reserve’s hawkish argumentation was dictating marketplace expectations. Interest complaint cuts successful the archetypal fractional of 2025, a would-be risk-asset tailwind, were being progressively priced out.
“US CPI came successful beneath expectations, providing a invited reprieve to ostentation worries and bolstering bets connected complaint cuts,” QCP wrote successful its latest bulletin to Telegram transmission subscribers.
“Still, the Fed remains cautious. At its past meeting, officials reiterated a data-dependent stance, flagging the uncertain downstream effects of tariffs connected some unemployment and inflation.”
Fed people complaint probabilities (screenshot). Source: CME GroupData from CME Group’s FedWatch Tool enactment the Fed’s September gathering arsenic the apt juncture to present the adjacent cut.
“Market pricing has besides adjusted accordingly, with 2 complaint cuts present expected for 2025, down from 4 conscionable a period prior,” QCP added.
This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
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