Bitcoin rebounds as U.S. CPI rises 3.0%… "Possibility of a new all-time high remains open"

The U.S. consumer price index (CPI) slightly missed market expectations, prompting a rebound in Bitcoin (BTC).

On the 25th (local time), The Block reported that U.S. September CPI rose 3.0% year-on-year, below the expected 3.1%. As a result, Bitcoin recovered to the $110,000 level just before the CPI release and then rose to the mid-$111,000s immediately after the CPI release.

Nic Puckrin, co-founder of Coin Bureau, said, "This CPI is the most influential inflation report of the year," adding, "It reduces uncertainty from shutdowns and increases the likelihood that the Fed's easing cycle will continue." He added, "If Bitcoin breaks through the $116,500 level, the possibility of a new all-time high opens up."

However, some experts cautioned that a cautious approach is still necessary. Timothy Misir, head of BRN Research, analyzed, "The market is still in the 'proof-of-conviction phase.' With options open interest (OI) remaining at high levels and selling pressure from long-term holders continuing, there is a strong possibility that a short-term rally could widen or reverse sharply."

Meanwhile, Bitcoin is currently trading at $111,090.59, up 1.11% from the previous day, according to CoinMarketCap.