According to The Kobeissi Letter, S&P 500 futures have fallen by 120 points from their high, marking a significant reversal after the CPI inflation report. This movement indicates a strong market reaction to inflation data, potentially affecting trading strategies in the short term.

According to The Kobeissi Letter, Bitcoin has surged above $84,000 after the U.S. Consumer Price Index (CPI) inflation fell more than expected. This significant movement in Bitcoin's price is directly linked to the latest inflation data, indicating a potential shift in investor sentiment towards cryptocurrencies as a hedge against inflation.

According to Skew Δ, Bitcoin is experiencing very tight consolidation, with $98K acting as a clear resistance level. The market needs to show real strength above this level and a higher high (HH) to target higher prices. Support levels are identified between $94K and $92K, supported by market demand. Current market movements are being influenced by inflation data, which traders should closely monitor. (Source: Skew Δ on Twitter)