Analysis of Bitcoin's Current Oscillation Pattern and Future Outlook
Many people are waiting for a drop to the right level, but the market is unpredictable, changing every day, unlike the big A.
It's Monday, and the performance of Bitcoin's price is stirring the hearts of retail investors. Bitcoin has been fluctuating in a narrow range around the 94,000 price level, with both bulls and bears locked in a stalemate. The reason behind this largely stems from market participants waiting for Wednesday's upcoming CPI data. The CPI, or Consumer Price Index, is a core indicator measuring inflation levels at the macroeconomic level, and its impact on the market should not be underestimated. Before the data is officially released, there is a strong atmosphere of wait-and-see in the market, and this cautious attitude has directly led to Bitcoin's price fluctuating within a very small range, resulting in the current oscillation pattern.