Bitcoin’s Wild Ride Amid Inflation Concerns
Bitcoin dipped 2.1% to $94,250 before rebounding to $98,100 following the latest U.S. Consumer Price Index (CPI) report. Inflation climbed to 3.0%, exceeding the 2.9% forecast, while core CPI hit 3.3%, reigniting concerns over Federal Reserve policy.
Santiment noted that social media mentions of “inflation” and “CPI” spiked to a 15-month high, reflecting growing concerns among traders. Many traders fear a repeat of 2022 when Federal Reserve rate hikes led to a major sell-off in cryptocurrencies.
Historically, large holders accumulate BTC when smaller traders panic, potentially setting the stage for another price rally. However, whether Bitcoin can sustain this momentum will depend on upcoming economic data and investor sentiment.
Hedera’s Downtrend Eases, but Recovery Still Unclear
Hedera (HBAR) has dropped 5% in the last 24 hours and 22% over the past month, bringing its market cap to $8.5 billion. Despite the extended sell-off, indicators suggest bearish momentum is weakening.
The Average Directional Index (ADX) has declined from 28.9 to 23, signaling a loss of selling pressure. An ADX reading below 25 often suggests a trend slowdown rather than a full reversal. The Ichimoku Cloud, however, still positions HBAR in bearish territory, with resistance levels at $0.231 keeping recovery attempts in check. Meanwhile, the Relative Strength Index (RSI) sits at 35.41, close to oversold conditions. If HBAR can reclaim key resistance above $0.231, bullish momentum may strengthen. However, without an increase in buying pressure, consolidation or further downside remains likely.
Shiba Inu Struggles Despite Whale Accumulation
Shiba Inu (SHIB) is attempting to recover after nearly losing a decimal point. It has gained 3% today, trading at $0.00001632, improving its weekly performance. However, SHIB remains down 24% on the monthly chart, with whale activity playing a key role in shaping its future trajectory.
Data from IntoTheBlock shows that 1,580 wallets hold between $100,000 and $1 million in SHIB, collectively worth over $600 million. Meanwhile, 880 wallets hold between $1 million and $10 million in SHIB, totaling $3 billion.
Large transaction volumes for SHIB have dropped 35% in the last 24 hours, signaling possible fatigue among whales. This decline from 2.19 trillion SHIB traded to 1.41 trillion SHIB could indicate reduced accumulation. Net network growth has also slowed, meaning fewer new investors are entering the market.
Analysts like Javon Marks predict that SHIB could rally 399% toward $0.000081 if the pattern completes. However, bearish factors such as declining whale activity and market-wide uncertainty remain obstacles. Bitcoin’s short-term trajectory hinges on the Federal Reserve’s next move. If rate cuts are delayed, BTC could struggle to maintain its recovery. HBAR’s weakening downtrend is a positive sign, but a clear bullish reversal is still missing. SHIB’s price action is heavily influenced by whale activity, and the recent slowdown in large transactions raises concerns about sustained momentum.