In my opinion, Bitcoin is targeting the 102K range, based on the following key factors:
The sharp rally in Bitcoin’s price immediately after the release of the inflation report was primarily driven by Jerome Powell’s statement that inflation is expected to decline to around 2% by 2027 —a level considered ideal for economic stability.
While this reaction may seem unusual at first glance, the market likely interpreted Powell’s stance as a confirmation that no further inflationary pressures are expected in the near future. This, in turn, led to the assumption that interest rate hikes are off the table for now, creating a favorable environment for risk assets like Bitcoin.
As a result, the price **quickly rebounded and resumed its bullish trend**, reinforcing the ongoing uptrend.
Let’s see how the market develops in the coming days.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.