Bitcoin price forms a bullish pattern ahead of US CPI data, SCOTUS ruling, CLARITY markup

2026-01-11 21:37:55

Source: CryptoNewsNet Original Title: Bitcoin price forms a bullish pattern ahead of US CPI data, SCOTUS ruling, CLARITY markup Original Link: Bitcoin (BTC) was trading at $90,590 on Sunday, a few points below the year-to-date high of $94,470. It remains much higher than the November low of $80,000.

Key Catalysts This Week

Bitcoin will have three main catalysts this week:

1. US Inflation Report (Tuesday) The Bureau of Labor Statistics will publish the latest consumer price index data on Tuesday. Economists polled by Reuters expect the report to show that the headline and core CPI rose 2.7% in December.

A higher inflation report will be bearish for Bitcoin as it will raise the possibility of the Federal Reserve maintaining higher interest rates for longer. On the other hand, a weaker report than expected will raise the possibility of the Fed cutting rates more times this year. A report released on Friday showed that the unemployment rate fell to 4.4% in December as the economy created 55k jobs.

2. CLARITY Bill Markup Bitcoin price will also react to the upcoming markup of the Market Structures Bill, commonly known as CLARITY. The coin will do well if there are signs that the Senate will pass it soon. The bill seeks to create clarity in the crypto industry by separating roles between the SEC and the CFTC.

3. SCOTUS Ruling on Tariffs The other notable catalyst will be the court ruling on tariffs. The court will rule on whether the tariffs are legal or not. If they are illegal, there will be other options to achieve the same result.

Technical Analysis

The daily chart shows that the Bitcoin price has formed a highly bullish pattern, meaning that a rebound is possible this week. It has formed an ascending triangle pattern, which is made up of a horizontal resistance and an ascending trendline.

Bitcoin has also moved above the 50-day Exponential Moving Average. Therefore, a rebound above the key resistance level at $94,468 will confirm the bullish outlook and point to more gains, potentially to the psychological level at $100,000. This target coincides with the Major S&R pivot point of the Murrey Math Lines tool.

BTC0,79%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.