Bitcoin (BTC) remains within striking distance of the $100,000 milestone, but analysts stress that bulls must hold critical support levels to maintain momentum.<\/p>\n\n\n\n
On November 15, Bitcoin retraced from its new all-time highs of $90,000, dipping below $87,000 before the daily close. The pullback came as traders focused on retesting key support levels after the cryptocurrency\u2019s record-breaking rally on November 13.<\/p>\n\n\n\n
The release of the US Producer Price Index (PPI) for October reignited inflation concerns. The PPI rose 2.4%, slightly exceeding expectations, while core inflation also increased above 3%. These figures, combined with the Federal Reserve\u2019s recent interest rate cuts, have complicated monetary policy decisions.<\/p>\n\n\n\n
\u201cThis is a nightmare situation for the Fed,\u201d noted The Kobeissi Letter<\/strong> on X. \u201cIf you raise rates, we head into a recession; if you cut rates, inflation rises further.\u201d<\/p>\n\n\n\n As inflation data rolled in, the CME Group\u2019s FedWatch Tool revealed a sharp decline in the likelihood of further rate cuts at the Fed\u2019s December meeting\u2014from 82% on November 14 to 58% the following day.<\/p>\n\n\n\n Traders have identified $86,000 to $87,000 as pivotal for Bitcoin to sustain its bullish momentum.<\/p>\n\n\n\n \u201cA retest of support at $86K would be healthy for BTC and offer insight into whether the momentum behind this rally can sustain a run to $100K,\u201d Alan told his followers.<\/p>\n\n\n\n Alan suggested that Bitcoin could hit the psychological $100,000 mark by Thanksgiving on November 28, provided it maintains its current short-term upward trend.<\/p>\n\n\n\n \u201cIf support fails at the line, price will search for support in the $75K\u2013$76K range,\u201d he warned.<\/p>\n\n\n\n Bitcoin\u2019s trajectory remains heavily influenced by macroeconomic factors, including inflation and Federal Reserve policies. To reach $100,000, bulls must defend critical support levels and sustain momentum despite headwinds.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) remains within striking distance of the $100,000 milestone, but analysts stress that bulls must hold critical support levels to maintain momentum. Bitcoin Consolidates After All-Time Highs On November 15, Bitcoin retraced from its new all-time highs of $90,000, dipping below $87,000 before the daily close. The pullback came as traders focused on retesting […]<\/p>\n","protected":false},"author":10,"featured_media":6122,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,18],"tags":[],"class_list":{"0":"post-12316","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-market-updates"},"acf":[],"yoast_head":"\nKey Levels for Bitcoin Bulls<\/h3>\n\n\n\n
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$100K Target by Thanksgiving?<\/h3>\n\n\n\n
Bitcoin\u2019s Path Forward<\/h3>\n\n\n\n