Interest Rate Speculation Sparks Hopes for Bitcoin Rally

Bitcoin recently dipped to $58,900, its lowest point in three weeks, following a favorable US Consumer Price Index (CPI) report.

Despite the drop, traders see it as a potential buying opportunity. Data from Santiment, a market analysis platform, reveals growing optimism for Bitcoin, hinting at a possible bull run even amid its downturn.

As the market experiences a sell-off, large-scale holders, or “whales,” have offloaded over 30,000 BTC—worth nearly $2 billion—adding pressure on the market. This selling spree has contributed to Bitcoin’s slide alongside broader crypto market declines.

Coinglass reports show liquidations across the crypto market reached $181 million over the last 24 hours, impacting more than 53,000 traders. Of that, $123 million came from long positions, with $69 million tied to Bitcoin specifically. One notable liquidation involved a Binance trader who lost $10.51 million in a BTC/USDT trade.

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Santiment’s analysis suggests many traders view the current dip as a short-term pullback rather than the onset of a deeper downturn, fueling hopes for a rebound in Bitcoin’s value.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.