As Bitcoin 
$89,403 experiences a pause in its upward trend, traders are focusing on the upcoming Consumer Price Index (CPI) data from the United States. Experts suggest that after the CPI inflation data is released, Bitcoin might undergo a slight correction in the short term. However, some prominent figures like veteran analyst Peter Brandt anticipate that Bitcoin will rise again in the near future.
Peter Brandt’s Bitcoin Commentary
Renowned investor Peter Brandt shared his prediction on social media platform X, indicating that Bitcoin could reach new peaks in the coming days. Brandt published a chart suggesting that the cryptocurrency could attain levels of $134,000 or $327,000 based on two different scenarios. This analysis has fostered optimism regarding Bitcoin’s potential to embark on a strong upward trend.
Despite Brandt’s optimistic forecast, other market analysts warn of increased volatility in the short term. Leading crypto analyst Ali Martinez stated that Bitcoin holders are not showing signals of “excessive greed” despite recent price increases. According to Martinez, the calm approach of long-term investors reflects market confidence and is viewed as a positive sign for Bitcoin’s price sustainability.
While this calm outlook aligns with Brandt’s upward expectations, there is speculation about a gradual rise rather than an abrupt surge in the market. In the short term, the U.S. CPI data is expected to influence investor sentiment across financial markets.
Current Status of the Bitcoin Market
Today, Bitcoin has dropped over 2%, falling to $87,540, with trading volume decreasing by 14% to $119 billion. The cryptocurrency reached a peak of $89,915 during the day, recording an all-time high of $89,956. Additionally, Bitcoin Futures Open Interest has decreased by about 3% in the last 24 hours, indicating a cautious stance among traders ahead of critical economic data.
Regulatory developments in the U.S. are also believed to play a significant role in Bitcoin’s long-term goals. Particularly, the establishment of a clear regulatory framework and crypto-friendly measures could support positive market expectations.
