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Bitcoin (BTC) has surged past $100k, fueled by a $500 million stablecoin inflow on Binance following the release of positive CPI inflation data. Key points:
- _CPI data boost_: The latest CPI report has shifted market sentiment to positive, driving stablecoin inflows and pushing BTC past $100k.
- _Stablecoin inflows_: $500 million in stablecoin inflows on Binance have been used to acquire BTC, reducing the exchange's reserves by over 63,000 BTC.
- _Bullish indicators_: BTC's Taker Buy Sell Ratio has surged, indicating buyer dominance, while the funding rate has spiked, implying bullish sentiment.
- _Scarcity_: BTC's stock-to-flow ratio is increasing, indicating growing scarcity and potential for further price gains.
- _Price targets_: With bullish sentiments prevailing, BTC may reclaim $105k, but a correction could see a drop to $98,900. 1 reply
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