Basri Caneri 
Bitcoin fell after the announced inflation rate. The annual inflation rate announced in the US was announced as 3.0%. Expectations were for 2.9%, but the data raised concerns in the markets. Higher-than-expected inflation raised the possibility that the US Federal Reserve (Fed) might delay interest rate cuts, which led to a sharp sell-off in risky assets.
Bitcoin fell sharply after the release of the inflation data, with the price falling as low as $94,500. The $93,800 level is currently an important technical support zone. As can be seen in the chart, this level has worked as a zone where buyers came into play in previous price movements. If this support cannot be maintained and the 4-hour closes are realized below $93,800, it seems possible that selling pressure will increase and the price may fall to $92,000.
Possible Scenarios in Bitcoin
If Bitcoin manages to hold at $ 93,800, a recovery up to the $ 96,000 – 97,000 band can be seen with reaction purchases. However, interest rate pressure in global markets and the strengthening of the dollar index make Bitcoin’s upward movement difficult. Investors need to focus especially on the statements of US Federal Reserve officials and interest rate expectations.
In summary, the $ 93,800 level stands as a critical threshold for Bitcoin. If this support is broken, it should be noted that downward movements may accelerate. However, if buyers gain strength at this level, the possibility of a short-term recovery is also on the table. Signals from the Fed, interest rate policies and global economic developments will be the main factors that will determine the direction of Bitcoin and crypto markets in the coming period.
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