Bitcoin (BTC) and the general market experienced volatility following the US Consumer Price Index (CPI) data and Federal Reserve announcements. The cryptocurrency's recent movement has caught the attention of investors and analysts. So, what's expected in Bitcoin in the coming days?

US Data and Bitcoin

Bitcoin experienced a decline after the US data was announced, dropping from $69,000 to $66,000. However, it has since made a small recovery and is currently trading at $67,505. A popular crypto analyst, known as CryptoCon, has reiterated their bullish views on Bitcoin, predicting a potential increase to $91,539. This price target remains unchanged despite the Federal Reserve's decision to keep interest rates unchanged in 2024.

According to CryptoCon's analysis, which uses historical peak and trough models, Bitcoin is ready for a breakout to $91,539. This could indicate a significant increase from its current valuation. Additionally, the number of active Bitcoin holders has increased, which could lead to an increase in trading volume.

On the other hand, the behavior of Bitcoin whales is also reflecting investor interest. Despite the price drop, whales have accumulated approximately 20,600 BTC, worth around $1.38 billion, which is one of the largest single-day buys since February. This suggests that investors see value at current prices and are positioning themselves for potential price increases.

In conclusion, Bitcoin's volatility following US data and Fed announcements has sparked investor interest. While predictions are subject to change, CryptoCon's analysis suggests a potential breakout to $91,539, and whale behavior indicates investor confidence in the cryptocurrency's future performance.