Bitcoin Drops 0.54% Amid CPI Data, Tariff Concerns

Bitcoin (BTC) is currently trading around $83,247, marking a slight decrease of $450 (-0.54%) within the day. The market sentiment is cautiously optimistic, but there remains a notable divergence in investor opinions.

In the United States, the release of February's Consumer Price Index (CPI) data, which came in lower than anticipated, has shifted market focus towards U.S. tariff policies and the progress of ongoing war and peace talks. These macroeconomic uncertainties have led to a surge in funds flowing into safe-haven assets, causing significant volatility in the cryptocurrency market. Despite the risks associated with tariffs and geopolitical pressures, some safe-haven funds continue to flow into Bitcoin, reflecting its status as a hedge against market instability.

Analysts from Bitunix suggest that the short-term support level for BTC is at $80,000, with resistance at $84,000. They advise investors to navigate the volatile market with caution, closely monitoring macroeconomic indicators and policy changes. Strict risk management strategies are essential, and investors should consider accumulating BTC during dips in the support zone while avoiding the temptation to chase prices blindly.