Why is Bitcoin Price Going Up Today?

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Bitcoin moved into positive territory on Tuesday, climbing above $93,000, as investors reacted to fresh U.S. inflation data and growing optimism around crypto regulation in Washington.

Bitcoin was last trading near $93,350, up about 1.3% in 24 hours, with trading volume also rising. The move comes after several days of sideways action.

CPI Data Gives Markets a Clear Signal

The latest U.S. Consumer Price Index showed inflation at 2.7%, exactly in line with expectations. While inflation remains sticky, the data eased fears of fresh rate hikes and reinforced expectations that the Federal Reserve may begin cutting rates later in 2026.

For Bitcoin, this matters. Lower inflation pressure reduces the need for aggressive tightening, which is generally supportive for risk assets. It also strengthens Bitcoin’s appeal as a store of value during long periods of restrictive monetary policy.

Gold’s sharp rally alongside Bitcoin shows investors are still looking for inflation hedges, even as price pressures cool slowly.

Technical Break Adds to Bullish Tone

On the technical side, Bitcoin briefly broke above the $93,500 resistance zone, a level that had capped prices for nearly two months. Short term moving averages are now acting as support, and momentum indicators suggest room for further upside.

Analysts say a sustained hold above this level could open the door to a move toward $95,000, and possibly higher if buying continues. However, a drop back below the low $91,000 range could weaken the bullish setup.

U.S. Senate Crypto Bill Lifts Sentiment

Additionally, the U.S. Senate released a draft crypto market structure bill aimed at bringing long needed clarity to the industry. The proposal clearly splits regulatory oversight between agencies and introduces a new category for most crypto tokens that are not traditional securities.

Experts see this as a step away from regulation by enforcement and toward clearer rules for projects and investors. While the bill still faces debate and revisions, its release has improved sentiment, especially among institutional players watching U.S. policy closely.