Bitcoin (BTC) price recorded $105,800 (approximately 154.4 million won) during mid-trading on May 12th, then dropped to $101,400 (approximately 148.1 million won) in the New York market, falling by 3%. Particularly, Bitcoin, which was moving within the short-term chart (LTF) rising channel, showed a downward breakthrough signal by breaking below the lower support line.
From a technical perspective, this decline is interpreted as a warning for short-term adjustment. If a breakdown occurs in the rising wedge pattern, selling pressure could intensify. The market believes that as Bitcoin faces profit-taking sales near $106,000 (approximately 155 million won), additional adjustment pressure may increase.
Meanwhile, the upcoming US Consumer Price Index (CPI) announcement could have a decisive impact on price direction. If the inflation rate appears lower than expected, risk asset preference sentiment may revive, potentially acting as a catalyst for Bitcoin's rebound. Conversely, if CPI exceeds expectations, concerns about interest rate hikes could expand, strengthening selling pressure and potentially pushing Bitcoin below $100,000 (approximately 146 million won).
The market is also paying attention to how Trump's pro-cryptocurrency policy stance will interact with future economic policies and investment sentiment. In the medium to long term, macroeconomic variables and the resolution of regulatory uncertainties are expected to determine Bitcoin's trend.
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