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Sohrab Khawas
Sohrab Khawas
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Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Mar 13, 2025 05:42 UTC
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Bitcoin Price Prediction Today: BTC Holds $83K After CPI Data – Breakout Ahead?
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BTC $ 82,344.99 (-3.84%) 
Bitcoin saw a mild price rebound following a lower-than-expected US CPI report, reducing market fear.
Technical analysis points to potential V-shaped reversal, with key support and resistance levels being crucial for future price action.
Despite some individual ETF losses, overall US spot Bitcoin ETFs saw inflows, and the narrative of Bitcoin as "digital gold" continues.
Bitcoin (BTC) led a mild rebound in the crypto market over the past 24 hours after the latest U.S. Consumer Price Index (CPI) report showed inflation at 2.8%, slightly below the expected 2.9%. The lower-than-expected inflation data sparked optimism among investors, giving Bitcoin a much-needed boost. The flagship cryptocurrency jumped 2%, reaching around $83,282 during the early European session on Thursday, March 13.
With traders watching key support and resistance levels closely, the next few days could be crucial in deciding Bitcoin’s short-term direction.
Here’s a look at what’s driving the market and what might come next.
Bitcoin Chart Insights and Key Targets
Bitcoin’s price jump helped reduce fears of further market sell-offs. The Bitcoin Fear and Greed Index climbed from 34 (indicating fear) to 45, signaling a shift toward neutrality.
Meanwhile, on-chain data from Santiment suggests that traders are becoming exhausted after Bitcoin dropped below the key $92,000 support level. So far, each dip has failed to establish a clear bottom, raising the risk of further declines.
Is a Strong Rebound Coming?
From a technical standpoint, Bitcoin may be setting up for a sharp recovery. While the price has been making lower lows on the daily chart, the Relative Strength Index (RSI) has shown a bullish divergence—a sign that a reversal could be ahead.
Key Support and Resistance Levels to Watch
Crypto analyst Ali Martinez highlights the 50-week Moving Average (MA) as a critical support level. If Bitcoin falls below it, history suggests a possible drop toward the 200-week MA.
- 50-week MA: Around $75,500
- 200-week MA: Near $46,000
For a bullish move, Bitcoin needs to consistently close above the $92,000–$95,000 resistance zone. More than 1.2 million Bitcoin addresses—out of the 54 million on-chain holders—bought 726,000 BTC around this level, suggesting strong demand.
Reasons to Remain Bullish Ahead
Bitcoin price will eventually follow gold price, which has rebounded towards its all-time high. Furthermore, the ongoing adoption of Bitcoin by nation-states, led by the United States, confirms the fact that BTC is digital gold.
Meanwhile, U.S. spot Bitcoin ETFs ended a two-week losing streak with a net inflow of $13.3 million on Wednesday. While BlackRock’s IBIT saw $47 million in outflows, ARKB offset this with an $82.6 million inflow.
If Bitcoin holds its key support levels and reclaims resistance, it could be on track for a rally toward $109,000.
The charts are setting the stage—Bitcoin’s next move could make or break its short-term trend.
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FAQs
Bitcoin surged 2% after U.S. CPI dropped to 2.8%, easing inflation fears and boosting market confidence.
Yes, Bitcoin is often seen as digital gold, and its price may rise as gold hits new all-time highs.
Yes 
No 
