Why Bitcoin Price Can’t Clear $90K Even With “Perfect” Inflation

Group 1 - US inflation data showed a year-over-year CPI of 2.7% for November, lower than the expected 3.1%, with core inflation at 2.6%, which typically benefits risk assets like Bitcoin [3] - The November inflation report is considered unreliable due to a six-week government shutdown that led to estimates rather than actual market data, particularly affecting rents and services [4] - The Federal Reserve acknowledges the distortion in inflation data and maintains a cautious stance, indicating no immediate need for further rate cuts, which impacts Bitcoin's trading behavior as it is increasingly viewed as a macro asset [5] Group 2 - Despite three rate cuts, real yields on 10-year TIPS remain around 1.9%, reducing the urgency for investors to chase Bitcoin compared to the negative real rates seen in 2020-21 [7] - Bitcoin's price struggles to break the $90,000 mark, indicating a significant sell wall that is being actively refreshed, suggesting strategic selling rather than panic [1][2]