BTC: Bitcoin Holds Steady Above $80,000, US CPI Data and CLARITY Act Deliberation on the Horizon

On May 11, QCP issued a statement noting that key U.S. inflation data—including CPI, PPI, and retail sales—will be released this week. The market is focused on whether inflation is stabilizing rather than reaccelerating. Stable inflation figures could support expectations for looser financial conditions, which would likely push real yields lower. Historically, this dynamic has buoyed the crypto market. Conversely, persistent inflation would reinforce expectations of ongoing policy tightening, weighing on risk assets. Notably, Bitcoin has held steady above $80,000 despite net outflows from spot ETFs last Thursday and Friday, as well as market concerns over Michael Saylor’s comments related to Bitcoin sales. This price resilience is viewed as constructive. Additionally, the U.S. Senate Banking Committee plans to take up the “CLARITY Act” this week. While this is a procedural step rather than a final vote, it marks an important signal of legislative progress. Any forward movement on the bill could shape market expectations for regulatory clarity, which in turn would impact ETF flows and broader institutional capital movements into crypto. Crypto volatility continues to ease, hovering near a yearly low, while the VIX (volatility index) remains around 18—indicating limited overall market pressure. In the near term, cryptocurrencies are likely to trade within a range, with $84,000 serving as a key resistance level. The market is waiting for further clarity on inflation trends and macro factors like the U.S.-Iran situation.