Claim $500Will Bitcoin Price Fall Below $20K Ahead Of US CPI Data
The Bitcoin price correction has swept the crypto market, with the total market cap falling down to almost $1 trillion. After Bitcoin price dropped over 7% in just a few days due to U.S. Fed officials committing to rate hikes and U.S. SEC’s action against staking on centralized exchanges, traders are now looking at levels to buy the dip.
In January, a large group of investors entered the crypto market to bring a broader market recovery. The same group has been waiting for a correction, but now the sentiment is flipping after a massive fall in prices across the market.
Also Read: India’s Finance Minister Addresses G20 Nations’ Crypto Regulation
Popular crypto analyst Michael van de Poppe, who predicted the fall to $21.7K when the BTC price was stuck near $23K, has shared an interesting analysis on the Bitcoin correction and when to buy.
On the daily chart, Bitcoin price is still in a corrective trend and can hit the $21K support level. It is actually the entry zone that investors should be looking at. However, a broader negative sentiment could take momentum to sweep at $19.7K.
After a “buy the dip”, Bitcoin price can rally to $25K. It is actually a great period to start looking into longs due to the dip season. Interestingly, the U.S. CPI data for January coming on Tuesday is the event after which a massive rally can be seen because the inflation will probably drop like a stone.
Macro Events Impact on Bitcoin Is Declining
Bitcoin has become immune to all macro events except inflation. Experts believe the Bitcoin price correction will be short-lived unless microeconomics going to shift and the NASDAQ is going to fall apart.
The US Dollar Index (DXY) started moving higher after hitting the support. A rise in DXY above 103.50 is putting the Bitcoin price under pressure, along with the current FUD in the crypto market.
Also Read: Ethereum Price Reaches $1500 Psychological Support, Massive Fall Coming?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto Gains New Use Case as Iran Turns to Digital Assets for Weapon Sales
- Bitcoin Could Rally to $170,000 in 2026 If This Happens: CryptoQuant
- Lighter Team Under Fire After Alleged $7.18M LIT Token Dump Post-Airdrop
- Binance Market Maker Hack: Trader Rakes in $1M via Failed BROCCOLI Price Manipulation
- Breaking: UK Begins New Initiative to Crack Down on Crypto Tax Evasion
- Shiba Inu Price Eyes a 45% Rebound as Burn Rate Spikes 10,700%
- Expert Predicts Ethereum Price Rebound to $4k as BitMine, Long-Term Holders Buy
- Bitcoin Price Prediction Ahead of FOMC Minutes
- U.S. Government Shutdown Looms: These 3 Crypto Predictions Could Explode
- Grayscale Files for First U.S. Bittensor ETF: Will TAO Price Rally to $300 in January?
- Shiba Inu Price Prediction: Will SHIB Show Golden Cross Signal in 2026?
