Cryptocurrencies price trends are showing significant movement, with Bitcoin price hovering around $81k after a slight recovery of 5% yesterday. This comes after a notable price correction in the past few days. The global cryptocurrency market cap stands at $2.64 trillion, reflecting a 0.91% increase within the last 24 hours. However, volatility is expected as the U.S. Consumer Price Index (CPI) data is set to be released today, Wed, March 12th, which may impact market activity.
Cryptocurrencies Price Forecast: Will Bitcoin’s Recent Surge Endure Ahead of CPI?
U.S. Consumer Price Index (CPI) data will be released on Wednesday, March 12, attracting significant market attention. Projections indicate a 2.9% increase in inflation, but actual inflation is expected to come in much lower at around 2.4-2.5%.
Current true inflation statistics demonstrate this pattern since the CPI reveals positive signs of deceleration. Market observers remain focused on the possibility of Bitcoin price growth because the economy shows both current inflation challenges and initial adverse crypto market trends.
CPI data tomorrow will come in way lower than expected. It’s already been proven with tru inflation data. Projected is 3% expected is 2.9% and the actually numbers are 2.4-2.5%
If you’re sidelined, un-sideline yourself.
Thank me later.
— Cosplay (@cosplayautist) March 11, 2025
Will Bitcoin Price Recover to $90k After CPI Released?
The BTC price hovered around $81,720 on March 12, 2025, as volatility remained a defining feature in the crypto market. Despite fluctuations, the BTC price maintains a relatively stable range, with a critical support level established just below $80,000.
The Moving Average Convergence Divergence (MACD) reveals mixed signals. The MACD line is above the signal line in the 4-hour chart.
The Relative Strength Index (RSI) remains in a neutral zone at 44.37, just above the 40 mark, hinting that Bitcoin is neither overbought nor oversold, with $82k acting as a significant resistance level. If the BTC price breaks this, the next level lies at the $90k mark.
On the downside, if the Bitcoin price prediction fails to maintain support around $80k, further declines might bring the price closer to the $70,000 range.
Source: TradingView
Is the Crypto Market Poised for Recovery?
The other crypto markets are seeing a slight surge, with ETH price struggling to regain its trend amid market uncertainty. The latest ETH price is trading at $1,910, reflecting a minor 1% increase.
If Ethereum price prediction continues to face downward pressure and closes below $1,900, it may test its next support level at $1,800. On the other hand, if a recovery happens, ETH could rally back above the $2,200 level.
Source: TradingView
The top altcoin market, like XRP, is showing a strong performance, up by over 5%, while Solana (SOL) hovers around $130 with a modest 0.2% increase. Dogecoin (DOGE) also experiences a 5% uptick, as other top coins follow the upward momentum.
The upcoming CPI data will significantly affect the Bitcoin price fluctuations. Market changes after the CPI response will establish future market patterns specifically when inflation trends downwards. If the market conditions stay favorable Bitcoin may push through greater resistance points while cryptocurrencies price exchange values continue to change as expected.
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