Key takeaways:
Possible de-risking ahead of the May 13 CPI print could be playing a role in today’s BTC price correction.
Bitcoin market structure and qualitative fundamentals remain bullish, suggesting today’s correction could be short-lived.
Bitcoin (BTC) price briefly stumbled on May 12, falling to $102,388 after hitting an intraday high at $105,819 during the US trading session. At first glance, the abrupt correction seemed unexpected given the positive news of the day. Since Sunday evening (May 11), mainstream media headlines have reported on the positive headway made in the US-China trade talks occurring in Switzerland, and throughout the evening, President Trump ran his victory lab via Truth Social posts heralding the positives of the deal.
BREAKING: U.S. Announces China Trade Deal in Geneva pic.twitter.com/JjgvYAvAGe
— The White House (@WhiteHouse) May 11, 2025
As news of the tentative deal broke, US equity futures markets soared, and these gains materialized