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.

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.