Despite a recent surge in market sentiment fueled by easing inflation data, Bitcoin remains cautious as traders wait for clear direction. While equities, particularly the S&P 500 and Nasdaq Composite, have reached new highs, Bitcoin continues to lag behind, demonstrating lingering uncertainty. CryptoQuant reports that initial price jumps after the CPI release were followed by a period of consolidation as traders adjusted their positioning. The firm observed a return in risk appetite but emphasized its concentration in traditional markets, indicating crypto investors are still awaiting stronger signals before committing capital. [Glassnode’s analysis confirms this pattern.] Bitcoin’s technical indicators show resistance around $117,630 while support is located near $111,160. These levels define the current range for Bitcoin and its future movement.