Bitcoin's price experienced volatility, dropping to $102,457.33 before rebounding to $104,555.73, as traders anticipate the release of US inflation data. The upcoming Consumer Price Index (CPI) report is crucial for assessing the likelihood of a Federal Reserve rate cut in December. Current market sentiment, as indicated by the CME FedWatch tool, shows a 67.9% probability of a rate cut, down from 85% last week. A higher-than-expected inflation figure could postpone easing measures, while lower inflation might enhance risk appetite in crypto markets. Bitcoin is currently testing a significant resistance level at $105,795, with potential for a pullback to $99,680 if it fails to break through.
Bitcoin Price Fluctuates as Traders Eye US CPI Data for Rate Cut Clues
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