{"id":551754,"date":"2023-02-14T18:16:05","date_gmt":"2023-02-14T15:16:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-returns-to-22k-despite-least-volatile-us-cpi-reaction\/"},"modified":"2023-02-14T18:16:05","modified_gmt":"2023-02-14T15:16:05","slug":"bitcoin-price-returns-to-22k-despite-least-volatile-us-cpi-reaction","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-returns-to-22k-despite-least-volatile-us-cpi-reaction\/","title":{"rendered":"# Bitcoin price returns to $22K despite &#8216;least volatile&#8217; US CPI reaction"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40e0fd49839\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40e0fd49839\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-returns-to-22k-despite-least-volatile-us-cpi-reaction\/#%E2%80%9D_Bitcoin_price_returns_to_22K_despite_%E2%80%98least_volatile_US_CPI_reaction_%E2%80%9C\" >&#8221; Bitcoin price returns to $22K despite &#8216;least volatile&#8217; US CPI reaction &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-returns-to-22k-despite-least-volatile-us-cpi-reaction\/#BTC_price_hits_5-day_highs_on_CPI\" >BTC price hits 5-day highs on CPI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-returns-to-22k-despite-least-volatile-us-cpi-reaction\/#DXY_forms_ongoing_focus\" >DXY forms ongoing focus<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_returns_to_22K_despite_%E2%80%98least_volatile_US_CPI_reaction_%E2%80%9C\"><\/span>&#8221; Bitcoin price returns to $22K despite &#8216;least volatile&#8217; US CPI reaction &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4bbf85c5>Bitcoin (BTC) ticked above $22,000 after the Feb. 14 Wall Street open as crucial United States inflation data delivered \u201cmixed\u201d results.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/97bbc63a-2e7b-4045-be7e-52444542ce28.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"BTC_price_hits_5-day_highs_on_CPI\"><\/span>BTC price hits 5-day highs on CPI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a> followed BTC\/USD as it tested multi-week lows twice on hourly timeframes before reversing upward. <\/p>\n<p>The pair saw flash volatility in line with predictions as January\u2019s Consumer Price Index (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bls.gov\/cpi\/\">CPI<\/a>) numbers hit, something repeated at the start of trading on Wall Street.<\/p>\n<p>Still within a tight trading range, however, Bitcoin\u2019s reaction was in fact fairly muted, with up and down moves only involving several hundred dollars at a time. <\/p>\n<p>That reflected the CPI data itself, which broadly conformed to market expectations. A moderate exception was year-on-year, which ran \u201chot\u201d at 0.2% above the envisaged 6.2%.<\/p>\n<p>\u201cUS inflation mixed,\u201d markets commentator Holger Zschaepitz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1625491134159155200\">wrote<\/a> in part of a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> reaction.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">US inflation mixed. Jan CPI was inline w\/St on MoM basis, coming in +0.5% headline &amp; +0.4% core. On YoY basis, things ran bit hot, coming in +6.4% headline (down from +6.5% in Dec but ahead of St\u2019s +6.2%) &amp; +5.6% core (down from +5.7% but ahead of St\u2019s +5.5%. (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/knowledge_vital?ref_src=twsrc%5Etfw\">@knowledge_vital<\/a>) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/do5yNoEyIa\">pic.twitter.com\/do5yNoEyIa<\/a><\/p>\n<p>\u2014 Holger Zschaepitz (@Schuldensuehner) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1625491134159155200?ref_src=twsrc%5Etfw\">February 14, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Crypto circles also noted the lack of panic, which accompanied crypto markets\u2019 reaction.<\/p>\n<p>\u201cThis looks to be one of the least volatile market reactions to US CPI since 2022,\u201d Investment research resource <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a> of Trades <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GameofTrades_\/status\/1625506405653544963\">commented<\/a>.<\/p>\n<p>With few cues coming from macro, Bitcoin traders thus looked to potential range highs and lows to determine future short-term price action.<\/p>\n<p>\u201cTight daily range at the moment,\u201d Crypto Chase <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Chase\/status\/1625501428046516227\">summarized<\/a> alongside an explanatory chart. <\/p>\n<blockquote><p>\u201cI think we eventually interact with both red box and liquidity below. I&#8217;d be watching for shorts from red box and for longs after sweeping 20.3K liquidity.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/80e58dca-a75b-443d-a3d5-7da7d05d7667.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Crypto Chase\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Fellow trader Skew added that whales had reduced long BTC exposure following the print.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> Perp CVD Buckets &amp; Delta Orders<br \/>Market is definitely bias to holding short positions.<br \/>Some whales reduced longs post CPI. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/fogJG1XxkJ\">pic.twitter.com\/fogJG1XxkJ<\/a><\/p>\n<p>\u2014 Skew \u0394 (@52kskew) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/52kskew\/status\/1625497240163987460?ref_src=twsrc%5Etfw\">February 14, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Prior to that, monitoring resource Material Indicators had revealed whales setting up what it likened to a trap for retail investors.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/FireCharts?src=hash&amp;ref_src=twsrc%5Etfw\">#FireCharts<\/a> shows <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> whales trying to lure retail in at higher levels ahead of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/CPI?src=hash&amp;ref_src=twsrc%5Etfw\">#CPI<\/a> as purple whales sell into retail bid liquidity. Also note that the buy wall has returned to the $24.4k range in 2 levels. If the $6M up top gets hit, I expect the lower $18M to rug.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/NFA?src=hash&amp;ref_src=twsrc%5Etfw\">#NFA<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/sG3O9IzXhC\">pic.twitter.com\/sG3O9IzXhC<\/a><\/p>\n<p>\u2014 Material Indicators (@MI_Algos) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1625473558137675778?ref_src=twsrc%5Etfw\">February 14, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"DXY_forms_ongoing_focus\"><\/span>DXY forms ongoing focus<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On equities, a similarly lackluster response to CPI saw the S&amp;P 500 and Nasdaq Composite Index both open flat.<\/p>\n<p><strong><em>Related:\u00a0First weekly death cross ever \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>The U.S. dollar index (DXY), a keen focus for some in the run-up to a week of macro data releases, briefly spiked above 103.5 before returning to base.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/97a46350-6d58-4b1f-8293-57e340e9cd53.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>&#8220;I said to keep an eye on DXY. It almost hit the green box and bounced. In case it starts moving higher, bearish for crypto imo,&#8221; popular trader Crypto Ed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1625494203513053184\">wrote<\/a> in part of his latest Twitter updates.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/d40fa380-8f22-4c4b-9df3-c2c7f6cdd7fa.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) annotated chart. Source: Crypto Ed\/ Twitter<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-returns-to-22k-despite-least-volatile-us-cpi-reaction\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price returns to $22K despite &#8216;least volatile&#8217; US CPI reaction &#8220; Bitcoin (BTC) ticked above $22,000 after the Feb. 14 Wall Street open as crucial United States inflation data delivered \u201cmixed\u201d results. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price hits 5-day highs on CPI Data from Cointelegraph Markets Pro and TradingView&#8230;<\/p>\n","protected":false},"author":1,"featured_media":551755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/74747c51-1942-4644-8d09-f3d52dcdbf63.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70551,73785],"class_list":["post-551754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-inflation","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/551754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=551754"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/551754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/551755"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=551754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=551754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=551754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}