Since the last week of May until now, the price distribution range for whales has fluctuated between $26.3k and $27.5k. This is the price range that market makers (MM) may target after pushing BTC price up to $31k. It is a price range with low liquidity where the market cannot absorb the price above it.
It's important to note that all the whales have bought BTC at prices between $15k and $16k, and now they are looking for the area with the best liquidity. Any negative information released can potentially trigger a market sell-off, bringing BTC back to the current area with the best liquidity, which is between $24k and $25.5k.
The range of $20k to $22k is the price range BTC may reach in the near future if Triệu Trường Bằng (CZ) goes to court with the judge or if there are negative macroeconomic conditions affecting the market.
On June 13th, there will be an announcement regarding the Consumer Price Index (CPI), which is one of the most important indicators for assessing inflation and the price increase of goods and consumer services. It has a short-term impact on the cryptocurrency market.
👉 Price reactions can be summarized in two scenarios:
☀️ If the CPI is higher than predicted (indicating high prices), the Federal Reserve (FED) may have grounds to increase interest rates, leading to a reduction in money flow into the market, particularly in the cryptocurrency market. As a result, the price of BTC may decrease.
☀️ If the CPI is lower than predicted (indicating stable or lower prices), the FED may choose to maintain or slightly decrease interest rates, leading to an inflow of money into the market. In this case, the price of BTC may react by increasing.
It's important to wait and see if the FED will continue to increase interest rates or not.
