Key Points:
Bitcoin continues to range in around $103,000 as the Bulls struggle to continue their promotions.
Traders prefer to rise in short-term BTC prices and eventually return, but overall belief in bull markets varies.
Despite encouraging inflation data, Fed rate reductions seem increasingly far away.
Bitcoin (BTC) embraced the familiar territory around the Wall Street Open on May 14th as traders waited for a fresh US macro queue.
Trader: BTC needs to collect $108,000 for breakout
Cointelegraph Markets Pro and TradingView data showed the remaining $103,000 for BTC-price magnets.
The Bulls managed another trip to $105,000 a day ago, but still lacked momentum after active profits throughout the first half of the month.
Now, traders have seen integration before returning to volatility.
It’s all a big shakeout range before another breakout 📈
Patience $ btc https://t.co/t9vnusoiqa pic.twitter.com/5bstzplom
– Phoenix (@phoenix_ash3s) May 14, 2025
“$BTC looks like a great IMO, but I still stand the fact that it could move sideways from here for a while. This is probably great news for Alts TBH.”
“If BTC is calm, Alts can do their thing for a little while.”
Despite seeing Bitcoin Bull Market rewind earlier than later, fellow trader Roman agreed that a higher price would come first.
“If we can continue to integrate the integration here, and as a continuation of the trend, we’re looking for more inverses. Yes, my macro view believes that $btc bull is nearby, but I believe there’s still room for short-term upside down,” he told X-followers.
“Break 108 resistance and 120 is possible.”
After CPI, market rate reduction odds were “adjusted”
The effects of macros were less noticeable on the day, thanks to gaps in US inflation data releases.
Related: BTC Bulls Get “The Maximum Signal” – 5 Things You Need to Know About Bitcoin This Week
The previous day, printing a lower than expected consumer price index (CPI) turned to the producer price index (PPI) count on May 15th, failing to cause a fresh crypto rally.
Commenting, trading company QCP Capital stressed that the Federal Reserve Hawkish policy is determining market expectations. Interest rate cuts were increasingly priced in the first half of 2025, a tailwind for risk assets.
“The US CPI has fallen below expectations, welcomed inflationary concerns and strengthened its bets on rate reduction,” QCP wrote in its latest bulletin to Telegram Channel Subscribers.
“Even so, the Fed remains cautious. At the last meeting, authorities repeatedly took a data-dependent stance and flagged the uncertain downstream impact of tariffs on both unemployment and inflation.”
Data from CME Group’s FedWatch tool makes the Fed September meeting an opportunity that could provide the next cut:
“Market prices have also been adjusted accordingly, with two rate cuts expected in 2025, down from just a month ago,” QCP added.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
