Glassnode Co-founder: Bitcoin faces potential trend of falling before rising in volatility driven by CPI

Glassnode co-founders Yann Allemann and Jan Happel reported through their X account Negentropic, "Today's release of the U.S. Consumer Price Index (CPI) will bring volatility to the market. The value is expected to be higher, but any surprises could trigger market turbulence. Bitcoin is currently hovering around $95,000, but it may drop to the range of $94,000 to $92,000 to absorb liquidity. If this trend holds true, a bullish reversal could potentially bring Bitcoin back into the range of $97,000 to $98,500 - a key area that must be reclaimed before advancing towards the target of $100,000."