Analyst Michael van de Poppe, in his recent X post, forecasted Bitcoin\u2019s move past $100,000 after the US inflation data and President-elect Donald Trump\u2019s inauguration. He wrote, \u201cI\u2019m expecting that we\u2019re grinding back to $100K.\u201d He predicted a strong bounce back while the liquidity was absorbed at a price level of $91,500.<\/p>\n

Bitcoin is exchanging hands at $96,121 at press time and has marked a notable gain of more than 5% over the last 24 hours. However, the cryptocurrency has experienced a dip of more than 6% over the past week.<\/p>\n

According to Stuart Kaiser, Citigroup Inc.\u2019s head of US equity trading strategy, the S&P 500 Index is expected to move 1% in either direction on January 15, coinciding with the CPI report.<\/p>\n

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Commenting on the potential market implications of the upcoming CPI report, Brent Kochuba, founder of options platform SpotGamma, noted that a better-than-expected inflation reading could swiftly propel the S&P 500 above 5,900. However, a hot reading could exacerbate the index\u2019s decline and trigger a significant surge in the Cboe Volatility Index (VIX).<\/p>\n

Meanwhile, Peter Cardillo, chief market economist at Spartan Capital Securities in New York, revealed the unpredictability of the CPI report\u2019s implications. Cardillo stated, \u201cIt\u2019ll be touch and go for the next couple of days until we get the inflation news out of the way.\u201d However, it needs to be seen if the Bitcoin price would align with the analyst\u2019s prediction.<\/p>\n