Summary
- Bitcoin has fallen below $107,000, but it was reported to be a short-term technical adjustment.
- It was mentioned that there might have been selling pressure ahead of the Consumer Price Index (CPI) announcement, and the speed of BTC adoption in traditional financial sectors could act as a variable.
- BTC is trading at $101,722.70 on Binance, down 2.80% from the previous day.
Bitcoin (BTC) has fallen below $107,000, which is analyzed as a short-term technical adjustment.
On the 12th (local time), cryptocurrency specialist media Cointelegraph reported, "There may have been selling pressure ahead of the Consumer Price Index (CPI) announcement on the 13th," adding, "However, the adoption speed of BTC in traditional financial sectors and the possibility of improving the regulatory environment for cryptocurrencies still show a bullish market structure and fundamentals."
Meanwhile, BTC is trading at $101,722.70 on the Binance Tether (USDT) market as of 3:57 on the 13th, down 2.80% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
