Bitcoin Price Steady at $109,000 as Market Awaits CPI, Analysts Split on Direction
Bitcoin hovers near $109,000 as the market awaits crucial CPI data, with analysts holding divided opinions on the immediate future direction.Summary
Bitcoin is trading around $109,000, maintaining a narrow equilibrium as the market anticipates Friday's U.S. Consumer Price Index (CPI) release, which QCP Capital views as a key anchor for policy expectations. Following a record high above $126,000 on October 6, Bitcoin has seen momentum wane amid mixed macro signals. Analyst opinions are split: John Glover suggests the bull run is over, predicting a bear phase with prices retracing toward $70,000–$80,000. Conversely, VanEck views the pullback as a healthy, liquidity-driven mid-cycle adjustment, noting normalized leverage and steady on-chain activity. Geoffrey Kendrick of Standard Chartered remains bullish, expecting a short-term dip below $100,000 as a buying opportunity, maintaining a $200,000 year-end target. Institutional sentiment is mixed, evidenced by $101 million in outflows from U.S. spot Bitcoin ETFs on Wednesday, contrasted by T. Rowe Price filing to launch a new cryptocurrency-focused ETF.
(Source：Bitcoin Magazine)