Bitcoin Stuck in Limbo Due to Trump vs. Musk Drama

Bitcoin Stuck in Limbo: Is This the Calm Before the Crypto Storm?

The Trump-Musk public split caused last week’s volatility, and over the past three days, the price of Bitcoin has settled into a range between $103,800 and $106,900. Analysts predict that Bitcoin may fall before hitting new all-time highs since the cryptocurrency has not shown any discernible directional bias in the daily time frame.

Trump’s Tariff Threats and CPI Data Could Shake Bitcoin This Week

Markets are worried that Trump’s tariffs could put further pressure on prices as the US Consumer Price Index (CPI) is scheduled to be released on June 11. The US CPI is expected to increase 2.3% annually and 0.3% monthly, according to market analysts. The core CPI, which does not include food and energy, is expected to rise 2.9% annually and 0.3% monthly. Data indicating rising inflation may lessen the likelihood of a Fed rate cut, which might put more pressure on the price of Bitcoin.

Inflation data in the week ahead could unleash volatility,

a private wealth manager, Swissblock

According to Swissblock analysts, a short-term test of the lower range around $104,000 appears possible, despite the fact that Bitcoin bulls are gradually reorganizing and rebuilding their structure.

BTC Price Patterns Signal Massive Rally: Is $143K the Next Target?

Technically speaking, the weekly chart of the BTC/USD pair has been showing both a cup-and-handle and a bull flag pattern, both of which point to enormous gains. With a technical goal close to $143,000, which would indicate a 35% gain, Bitcoin’s price action points to a possible breakout over the $109,000 neckline in the cup-and-handle scenario.

As seen in the chart below, the bull flag pattern, however, suggests a possible breakout toward $143,300. To sum up, Bitcoin’s potential to rise above $140,000 is supported by a number of technical, on-chain, and fundamental factors.

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