Key points:
Bitcoin fails to capitalize on lower-than-expected US CPI data, seeing a Wall Street sell-off for a second day.
Traders see BTC/USD buying time before its next move, and a trip below $100,000 is on the cards.
Bitcoin is showing “undeniable” momentum against gold and stocks, Binance’s Richard Teng says.
Bitcoin (BTC) saw a repeat sell-off at the May 13 Wall Street open as bears ignored positive US inflation data.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
BTC price stagnates after CPI inflation cools
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD again heading lower after failing to reclaim $104,000 as support.
The downside came despite the April print of the US Consumer Price Index (CPI) coming in below expectations in what should be good news for risk assets.
“The all items index rose 2.3 percent for the 12 months ending April, after rising