Bitcoin profit taking at $106K the first stop before new all-time BTC price highs

Quick Summary:

As illustrated in the chart, Bitcoin currently approaches the “Alpha Price” zone, where long-term holders or whales could take profits, according to Joao Wedson, CEO of Alphractal. Bitcoin Alpha Price Levels.Source: X.comFrom a liquidation standpoint, the risk of a "long" squeeze is also elevated, with over $3.4 billion in leveraged long positions at risk of liquidation if prices drop to $100,000.

US Consumer Price Index data.Source: Investing.comA lower-than-expected CPI (potentially third in a row) could be bullish for Bitcoin, potentially signaling Federal Reserve rate cuts in 2025, boosting risk assets like equities and cryptocurrencies.

Source: CoinGlassRelated: Bitcoin all-time high cues come as US-China deal sends DXY to 1-month highCPI data looms as Bitcoin traders de-riskThe current BTC correction might reflect traders de-risking ahead of the US Consumer Price Index (CPI) release on May 13.

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Author / Journalist: Cointelegraph by Biraajmaan Tamuly

Category: Crypto

Markets: United StatesChina

Topics: Price Liquidation Highs Profit-taking Range Bitcoin Bearish $106 Data Chart Risk

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-12 @ 23:00:00 (20 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 405 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28639975

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