• Bitcoin (BTC) reacted positively to news of slower than expected inflation, only to plunge by over a grand.
• BTC charted a new two-month low before recovering marginally and settling near $27,500.
• Altcoins are in the green today, with LDO taking the main stage with a double-digit price surge.
BTC Reacts Positively to Slow Inflation News
The major news from the past week came when the US CPI numbers for April informed that the inflation rates had slowed down and were actually lower than expectations. Bitcoin reacted positively to this news at first and spiked from $27,500 to almost $28,500 in minutes.
BTC Plunges After Initial Surge
However, the landscape changed quickly and Bitcoin plummeted by over a grand. More volatility followed in both directions before finally settling back down at its starting point of $27,500. This was short lived though as Thursday and Friday saw more pain for bulls resulting in a drop to $25,800 late last night – BTC’s lowest position in approximately two months.
Altcoins In The Green Today
The altcoins are in the green today, with LDO taking the main stage with an impressive double-digit price surge. Solana, NEAR and ApeCoin are some of the other notable gainers from larger-cap alts.
Outlook For The Weekend
At press time BTC is trading at around $26400 after briefly dipping below 25K earlier during Asian hours today and it appears that market sentiment could remain bearish for some time until further positive developments come about such as institutional inflows or more good news on macroeconomic front which could push prices higher again soon. As such it remains to be seen what direction prices will take next but given that weekend trading volumes tend to be lower traders should keep an eye out for any major shifts before Monday rolls around again as we can expect increased liquidity then which could lead to either a bounce back up or further downside action depending on overall market sentiment then which will likely depend on whether bulls can defend key support levels like 25K or not over this weekend period .
In conclusion despite recent bearishness it appears that there is still room yet for potential upside if bullish forces prove strong enough going into next week regardless of current bearish momentum so traders should remain vigilant throughout this weekend period especially if they want their positions preserved when markets open back up come Monday morning once again