Bitcoin Price News: Bitcoin Price Correction Below $100K Possible Before CPI Print — But Bulls Remain in Control

Profit-taking and de-risking weigh on BTC price after rally to $105K; CPI data looms as next catalystBitcoin (BTC) experienced a sharp pullback on May 12, falling to $102,388 after reaching a local high of $105,819, as traders took profits and de-risked ahead of today’s Consumer Price Index (CPI) release. Despite the correction, analysts suggest the move is likely a short-term technical sell-off, with fundamentals still favoring a broader uptrend.Key Takeaways:BTC dipped 3.2%, falling below $103K despite bullish macro headlinesDe-risking ahead of the May 13 CPI report likely contributed to the correctionProfit-taking, weak momentum buyers, and sell-wall resistance capped BTC near $106KOn-chain metrics remain strong, suggesting a bullish consolidationBTC still up 9% over the past week and remains in a high-confidence accumulation phaseTrade Deal Optimism Not Enough to Sustain RallyThe correction came just hours after the U.S.–China tariff agreement was announced in Geneva. U.S. President Donald Trump celebrated the breakthrough with a series of posts on Truth Social, while U.S. equity markets soared, with the Dow Jones gaining 1,000 points at the open.However, BTC failed to hold above $104,000, leading some traders to believe the “Trump trade deal” was already priced in, and profit-taking ensued.Strategy’s Bitcoin Purchase, Corporate M&A Fuel Positive SentimentDespite the pullback, long-term fundamentals remain strong:Strategy CEO Michael Saylor confirmed a new acquisition of 13,390 BTC, bringing the firm’s total to 568,840 BTCHealthcare company KindlyMD shares surged 600% after announcing a merger with Nakamoto Holdings, a Bitcoin investment firm tied to Trump’s crypto advisor, David BaileyOngoing corporate treasury announcements and strong ETF inflows continue to support institutional adoption, according to Cointelegraph.On-Chain Data Signals Short-Term ConsolidationAccording to Glassnode, key metrics indicate a cooling phase:“BTC Supply Mapping shows sustained strength in new demand. First-Time Buyers RSI has held at 100 all week. But Momentum Buyers remain weak (RSI ~11), and Profit Takers are rising.”Additionally:Spot selling near the $106K resistance wallRising open interest and funding rate spikes show long liquidations and new short positionsBTC failed to keep pace with stock market gains, pointing to bid exhaustionCPI Print Could Spark Renewed BuyingTraders are closely watching the May 13 CPI report, which could define Bitcoin’s next move:A cooler-than-expected inflation print may revive spot and margin long interestA hotter CPI could dampen risk sentiment, prolonging the consolidationETF inflows, regulatory clarity, and rising crypto adoption could still fuel the next leg up