Bitcoin trips at $90K despite CPI showing curbed US inflation: What gives?

Bitcoin (BTC) rallied toward $90,000 following the release of November's Consumer Price Index (CPI), which showed inflation cooling to 2.7% year-over-year, lower than the forecasted 3.1%. This softer print eased near-term inflation pressure and boosted market risk appetite. On-chain data suggests this bounce is due to fresh positioning and balance-sheet repair rather than short covering or capitulation, as open interest is rising. However, analysts view the early upside as largely liquidity-driven, suggesting potential for short-term pullbacks until traders reassess positioning. On-chain metrics from CryptoQuant indicate BTC is in a repair phase, with selling pressure being reactive rather than structural. For Bitcoin to confirm a durable upside move, it technically needs to decisively clear and hold above the $90,000 level and the monthly VWAP, with immediate resistance between $90,500 and $92,000. The next major event is the Bank of Japan's interest rate decision on December 19, which could influence global liquidity.

(Source：Cointelegraph)