NEW YORK / LONDON (IT BOLTWISE) – Bitcoin has made a decisive break above $111,000, suggesting strengthening after several weeks of sideways movement. This development comes amid better-than-expected inflation data in the US, boosting both stocks and digital assets. The latest consumer price index data shows an annual increase of 3 percent, slightly below the 3.1 percent expected, giving markets a slight boost.
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Bitcoin recently reached a significant milestone by surpassing $111,000. This move is particularly notable because it comes after a period of sideways price action. The recent better-than-expected inflation data from the US has had a positive impact on both the stock market and digital assets. The consumer price index rose 3 percent year-on-year, slightly below the forecast 3.1 percent, giving markets a slight boost.
Historically, Bitcoin often moves in line with major stock indices. The ongoing upward trend in the stock markets supports positive sentiment for digital assets. It’s rare for Bitcoin to enter a deep bearish move while US stock markets are hitting new highs. The Supertrend indicator continues to show green, signaling an active bull phase, although a loss of momentum is visible, which could move prices sideways for a few weeks.
The recent daily close at around $111,000 is above the previous ceiling of $110,000. Holding above this level is now crucial. If the price falls below this, the recent breakout could fade. However, if it stays above, the next area to watch is between $114,000 and $116,000, where selling previously took place. According to heatmap data, there is a buildup of activity above the current price, mainly around $114,000 and $116,000. These zones could pull the market higher as positions are reduced.
In the coming weeks, Bitcoin could remain in a range between $110,000 and $116,000 before building enough strength for a larger increase. A clear break above $116,000 would open room for further gains, while a break below $110,000 would likely trigger another short-term correction. Overall, the bigger picture remains favorable as inflation is stable, stock markets are firm and digital assets continue to attract fresh interest.
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