Bitcoin News Today: Bitcoin Slides 2.18% Ahead of Key US CPI Data Release

Bitcoin's price is currently in a state of heightened volatility as market participants await the upcoming U.S. CPI data release. As of August 12, the price has dropped to approximately $118,652, representing a 2.18% decline from prior levels [1]. Analysts are predicting a CPI figure of 2.8%, up from the previous month’s 2.7%, which has already introduced a sense of uncertainty among investors [1]. The anticipated data is expected to influence market sentiment and BTC price movements, with traders closely monitoring how inflation trends might shape the broader macroeconomic landscape [2].

The potential for price movement is drawing attention to both bullish and bearish scenarios. According to Crypto Rand, a bull flag pattern observed in the first half of the year could lead to a rally toward $141,000 [1]. This analysis is based on a measured move from the flag’s low to high, suggesting a strong upward trajectory if a breakout occurs. Another analyst, Gert Van Lagen, projects a more aggressive target of $370,000 by 2025, based on a step-like formation that suggests a long-term bullish trend [1].

Conversely, bearish scenarios are also being considered. Van Lagen notes that if the bullish pattern fails, the price could fall to $94,000, with $115,000 seen as an intermediate support level in the near term. This view is supported by analyst Scient, who highlights the possibility of price rejection before a potential retreat to $115,000 [1].

The release of U.S. CPI data is expected to add to the existing volatility in the Bitcoin market. A rise in inflation could lead to further sell-off pressure, while a decline might allow for a recovery and another attempt to break above $120,000 [2]. In the lead-up to the release, Bitcoin has already experienced sharp swings, surging to $122,000 before retreating to around $119,000 [3]. This indicates a period of consolidation, with traders watching for signs of a breakout and whether the $120,000 resistance level can be sustained [4].

While the immediate outlook appears mixed, overall technical indicators suggest Bitcoin remains in a bullish trend. The presence of a bull flag pattern and the potential for a measured move above $141,000 support this view. However, the market remains highly sensitive to macroeconomic data, and any unexpected inflation numbers could trigger a sharp reversal [1].

Source: [1] Bitcoin Price Forecast as Markets Brace For US CPI (https://coingape.com/markets/bitcoin-price-forecast-as-markets-brace-for-us-cpi-94000-or-141000-next/)

[2] Bitcoin Price: BTC stabilizes as traders await US ... (https://www.mitrade.com/insights/news/live-news/article-3-1031976-20250812)

[3] Drops to $118k Ahead of Tuesday CPI Inflation Report (https://coincentral.com/bitcoin-btc-price-prediction-drops-to-118k-ahead-of-tuesday-cpi-inflation-report/)

[4] Bitcoin Retreats on Profit-Taking, U.S. CPI and PPI in Focus (https://europeanbusinessmagazine.com/business/bitcoin-retreats-on-profit-taking-u-s-cpi-and-ppi-in-focus/)