{"id":124924,"date":"2025-03-12T15:15:58","date_gmt":"2025-03-12T15:15:58","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124924"},"modified":"2025-03-12T15:15:58","modified_gmt":"2025-03-12T15:15:58","slug":"bitcoin-battles-us-sellers-as-cpi-inflation-sees-first-drop-since-mid-2024","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124924","title":{"rendered":"Bitcoin battles US sellers as CPI inflation sees first drop since mid-2024"},"content":{"rendered":"

Source: Cointelegraph.com NewsBitcoin (BTC) saw a classic Wall Street sell-off on Mar. 12 as bears tempered a welcome US inflation slowdown.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView
\nBTC price reverses at key bull market trendline
\nData from Cointelegraph Markets Pro and TradingView showed BTC\/USD reaching three-day highs of $84,437 on Bitstamp before reversing.
\nThe January print of the US Consumer Price Index (CPI) came in below expectations at 2.8%, per data from the Bureau of Labor Statistics (BLS), hinting at slowing inflation.
\n\u201cCore CPI inflation FALLS to 3.1%, below expectations of 3.2%,\u201d trading resource The Kobeissi Letter added in part of a response on X.\u00a0
\n\u201cThis marks the first decline in both Headline and Core CPI since July 2024. Inflation is cooling down in the US.\u201d
\nUS CPI 12-month % change. Source: BLSHowever, the good news was short-lived as the start of Wall Street trading saw the return of characteristic selling pressure across crypto markets.
\nBitcoin thus fell to $82,400 before consolidating, at the time of writing, circling the daily open.
\nIn his latest market observations, popular trader and analyst Rekt Capital saw reason for cautious optimism on BTC price performance.
\n\u201cThe latest Bitcoin Daily Close means that price has began the process of exiting its recently filled CME Gap after turning it into support,\u201d he told X followers, referring to the difference between session closing and opening levels on CME Group\u2019s Bitcoin futures \u2014 a common short-term price influence.
\n\u201cAny dips into the top of the CME Gap would constitute a post-breakout retest attempt to fully confirm the exit from this CME Gap. Initial signs of that retest occurring already.\u201d
\nCME Group Bitcoin futures 1-day chart. Source: Rekt Capital\/XFellow trader Daan Crypto Trades focused on the 200-day simple and exponential moving averages (SMA\/EMA) \u2014\u00a0classic bull market support trendlines currently at $83,550 and $85,650, respectively.
\n\u201cBulls got work to do here to get back above the Daily 200MA\/EMA. Last year we had the same thing and price chopped around these levels for 3+ months,\u201d part of his latest X analysis noted.
\nBTC\/USD 1-day chart with 200SMA, 200EMA. Source: Cointelegraph\/TradingViewBitcoin ETF outflows point to \u201cgrowing caution\u201d
\nContinuing on the macro theme, trading firm QCP Capital suggested that the day\u2019s CPI print could weigh on the Federal Reserve\u2019s interest rates decision next week.
\nRelated: Bitcoin whales hint at $80K \u2018market rebound\u2019 as Binance inflows cool
\n\u201cWith inflation concerns lingering and macro risks mounting, the CPI print will be a key determinant of whether the disinflationary trend will hold, or volatility intensifies in the near term,\u201d it wrote in its latest \u201cAsia Color\u201d market update.
\nQCP saw $82,000 solidifying as support, while institutional investor trends warranted caution.
\n\u201cMeanwhile, Bitcoin ETFs saw a significant net outflow of $153.87 million, led by Grayscale\u2019s Bitcoin Trust (GBTC), which recently offloaded 641 BTC, valued at $56.45 million,\u201d it concluded, referencing netflows from the US spot Bitcoin exchange-traded funds (ETFs).\u00a0
\n\u201cThis brought GBTC\u2019s total holdings down to 195,746 BTC, worth around $17.24 billion. This signals growing caution among institutional investors.\u201d
\nUS spot Bitcoin ETF netflows (screenshot). Source: Farside InvestorsThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsBitcoin (BTC) saw a classic Wall Street sell-off on Mar. 12 as bears tempered a welcome US inflation slowdown.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView BTC price reverses at key… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124924"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124924"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124924\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124924"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}