Bitcoin's Price Volatility Amid Recession Fears, CPI Data Awaited

Bitunix analysts have expressed their view that the market is overly concerned about the possibility of a recession. They believe that the upcoming release of February's Consumer Price Index (CPI) data could provide a potential rebound for the market. The analysts have identified key support and resistance levels for Bitcoin, with short-term support at $80,000 and short-term resistance at $85,000.

The market's concern about a recession stems from recent tariff measures that have raised inflation worries. Investors are closely monitoring the CPI data, which is expected to show a 0.3% increase for February, with a year-on-year increase of 2.9%. This would surpass the Federal Reserve's 2% target, indicating higher inflation levels.

Bitcoin's price has seen significant volatility recently, with the identified support and resistance levels serving as crucial points for traders. The analysts advise investors to be cautious and avoid blindly chasing highs or selling off based on short-term price movements. The impact of tariff policies on the market is also a factor that investors should consider.

Overall, the market's focus on the CPI data and the potential impact of tariff policies highlight the importance of economic indicators in shaping market sentiment. Investors are advised to stay informed and make trading decisions based on a comprehensive analysis of the market conditions.