Bitcoin (BTC) Price Surge Above $105K Puts It at a Critical Juncture

Bitcoin's price surge above $105K puts it at a critical juncture, with CPI data set to determine its next move. If CPI shows cooling inflation, Bitcoin could rally toward new all-time highs

Bitcoin (BTC) is poised for a crucial week as it trades above the $105,000 level, with the upcoming Consumer Price Index (CPI) report set to determine the flagship cryptocurrency’s next move, analysts said.

After a weekend of price action that saw Bitcoin rise rapidly, the flagship cryptocurrency is holding steady near its weekend highs. However, some problems have been noted by traders, who pointed out suspicious price action in the hours before news of U.S. President Donald Trump’s decision to delay a tariff increase on Chinese goods broke on Sunday.

Indeed, the chart has been quite noisy, with one analyst noting that a bullish MACD cross on the weekly chart could put Bitcoin on track for a strong move up. The last time this technical indicator crossed was in October 2024, which went on to mark the beginning of a major uptrend for Bitcoin.

This signal has now returned, and it could put traders in good stead for the week ahead, especially with the upcoming CPI report.

“The last time we saw this MACD cross on the weekly chart was in October 2024, which went on to spark a new bull market rally,” said Ben Michel, cryptocurrency analyst at CapitalVia Global.

“This time around, the MACD cross comes after a period of consolidation, which could be setting the stage for another leg up.”

However, despite the bullish technicals, Bitcoin failed to close above the $104,500 level on the weekly chart, which is a key level that traders will be watching closely this week. A clean break above the $106,000 level would be needed for bulls to gain the upper hand and push for further gains.

Here’s a look at what happened last week and what traders will be watching this week:

What happened last week

World stocks advanced on Monday as traders assessed better-than-expected earnings from U.S. companies and awaited clues on U.S. trade policy toward China.

The S&P 500 eked out a 0.1% gain by 7:08 AM ET (11:08 GMT), while the Nasdaq Composite edged up 0.2% and the Dow Jones Industrial Average fell 0.2%.

Equities markets had little to build on after a quiet weekend that saw Trump cancel a planned tariff hike on Chinese goods and announce he would meet with Chinese President Xi Jinping at the G20 summit later this month.

The move came after the two leaders engaged in a phone call on Thursday to discuss trade and North Korea.

“We’re still waiting to hear from Trump regarding the U.S.-China trade talks,” said Ricardo Matos, a trader at Stellar Capital.

“The small rise in the S&P