The Bitcoin bulls are challenging an important resistance level. The price has reached $122,056, influenced by the 1.618% Fibonacci extension.
If this level can be maintained, it may lead to a rise to 140,000 Dollars, and there are significant open interests in call options.
The US inflation data is expected to show a rise in core CPI, which could impact market volatility. However, the likelihood of preventing rate cuts by the Fed is low.
Bitcoin rose to 122,056 Dollar (approximately 17.7 million Yen, based on an exchange rate of 145 Yen per Dollar), starting from the lows of the bearish market in 2018 and the lows of the bearish market in 2022.