{"id":20414,"date":"2025-05-13T16:51:44","date_gmt":"2025-05-13T16:51:44","guid":{"rendered":"https:\/\/gold.creditcard\/bitcoin-shrugs-off-us-cpi-win-as-binance-ceo-says-btc-leading-pack\/"},"modified":"2025-05-13T16:51:44","modified_gmt":"2025-05-13T16:51:44","slug":"bitcoin-shrugs-off-us-cpi-win-as-binance-ceo-says-btc-leading-pack","status":"publish","type":"post","link":"https:\/\/gold.creditcard\/es\/bitcoin-shrugs-off-us-cpi-win-as-binance-ceo-says-btc-leading-pack\/","title":{"rendered":"Bitcoin shrugs off US CPI win as Binance CEO says BTC 'leading pack'"},"content":{"rendered":"

Key points:<\/strong><\/p>\n

Bitcoin fails to capitalize on lower-than-expected US CPI data, seeing a Wall Street sell-off for a second day.<\/p>\n

Traders see BTC\/USD buying time before its next move, and a trip below $100,000 is on the cards.<\/p>\n

Bitcoin is showing \u201cundeniable\u201d momentum against gold and stocks, Binance\u2019s Richard Teng says.<\/p>\n

Bitcoin (BTC<\/a>) saw a repeat sell-off at the May 13 Wall Street open as bears ignored positive US inflation data.<\/p>\n

BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n

BTC price stagnates after CPI inflation cools<\/h2>\n

Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD again heading lower after failing to reclaim $104,000 as support.<\/p>\n

The downside came despite the April print of the US Consumer Price Index (CPI) coming in below expectations in what should be good news for risk assets.<\/p>\n

\u201cThe all items index rose 2.3 percent for the 12 months ending April, after rising 2.4 percent over the 12 months ending March,\u201d an official release<\/a> from the US Bureau of Labor Statistics (BLS) confirmed.\u00a0<\/p>\n

\u201cThe April change was the smallest 12-month increase in the all items index since February 2021.\u201dUS CPI 12-month % change. Source: BLS<\/em><\/p>\n

US stocks opened higher, with the S&P 500 and Nasdaq Composite Index up 0.7% and 1.4%, respectively, at the time of writing.<\/p>\n

Reacting, trading resource The Kobeissi Letter noted that the S&P 500 had now delivered net upside year-to-date.<\/p>\n

\u201cThe S&P 500 has technically entered a new bull market, up 20% since April. We are seeing historic moves to both directions in both stocks and commodities,\u201d it wrote in part of a thread on X<\/a>.<\/p>\n

S&P 500 1-day chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n

BTC\/USD meanwhile surfed nearby order book liquidity around spot price. For popular trader Daan Crypto Trades, the stage was now being set for fresh volatility.<\/p>\n

\u201cThat’s all the big clusters above and below taken out now. Good liquidity grab on both sides,\u201d he summarized<\/a> alongside data from monitoring resource CoinGlass.\u00a0<\/p>\n

\u201cFrom here on out we’ll just have to wait and see as the market ranges a bit and figures out what it wants to do. No massive liquidity levels nearby so spot will have to be leading.\u201dBTC liquidation heatmap (screenshot). Source: CoinGlass<\/em><\/p>\n

The day prior, Daan Crypto Trades had forecast a retest of $102,000<\/a> based on liquidity clusters, a move which subsequently played out.<\/p>\n

\u201cBitcoin is stalling here for a little bit, which is completely fine,\u201d crypto analyst and entrepreneur Micha\u00ebl van de Poppe continued<\/a>.\u00a0<\/p>\n

\u201cEven if it goes back to $97.5-98K, we’ll still be in an uptrend and building up for new ATHs.\u201dBTC\/USDT 6-hour chart with RSI data. Source: Micha\u00ebl van de Poppe\/X<\/em><\/p>\n

Teng: Bitcoin momentum \u201cundeniable\u201d<\/h2>\n

Assessing the ongoing macro implications for BTC price action, trading firm QCP Capital considered the chances of the market trending sideways in the short term.<\/p>\n

Related: <\/strong><\/em>Bitcoin illiquid supply hits 14M BTC as hodlers set bull market record<\/strong><\/em><\/a><\/p>\n

\u201cBTC remains caught in a tug-of-war between its identity as \u2018digital gold\u2019 and its function as a risk-on proxy. This tension continues to obscure its directional conviction,\u201d it wrote in its latest bulletin to Telegram channel subscribers on the day.\u00a0<\/p>\n

\u201cAs the macro narrative moves from protectionism toward renewed trade optimism, BTC could remain range-bound.\u201d<\/p>\n

Others remained strong in their conviction over the general market trajectory, including Richard Teng, CEO of crypto exchange Binance.<\/p>\n

\u201cWhile traditional markets recover, Bitcoin\u2019s already leading the pack,\u201d he told<\/a> X followers while comparing returns since the April 2 \u201cLiberation Day\u201d enacted by US President Donald Trump as he unveiled reciprocal trade tariffs.\u00a0<\/p>\n

\u201cWith double-digit gains following key global events, BTC is reinforcing its position as a resilient alternative asset\u2014outperforming gold, the S&P 500, and the Nasdaq year-to-date. The momentum is undeniable.\u201dMacro asset comparison. Source: Richard Teng\/X<\/em><\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

<\/p>","protected":false},"excerpt":{"rendered":"

Key points: Bitcoin fails to capitalize on lower-than-expected US CPI data, seeing a Wall Street sell-off for a second day. Traders see BTC\/USD buying time before its next move, and a trip below $100,000 is on the cards. Bitcoin is showing \u201cundeniable\u201d momentum against gold and stocks, Binance\u2019s Richard Teng says. Bitcoin (BTC) saw a […]<\/p>","protected":false},"author":0,"featured_media":20415,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-20414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=20414"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/20415"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=20414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=20414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=20414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}