The critical support level of $91,600 for BTC/USDT is being closely watched as it could determine the future direction of Bitcoin. Analyst CryptoPatel suggests that if Bitcoin can hold this support level, it could potentially reach new highs between $120,000 and $130,000. However, if it fails to hold, it could lead to a bearish breakdown and increased volatility. In the past, Bitcoin has bounced back from this level multiple times, indicating strong accumulation. Bitcoin's funding rates have become neutral, indicating reduced leverage activity, and macro factors such as slowing inflation and a weaker USD may favor Bitcoin bulls. However, any negative outcome from the upcoming CPI release could break the critical support level and result in a swift drop towards the next visible support at $86,800. Bulls holding firm at this level could lead Bitcoin into its next parabolic phase, while bears breaching the support level may delay any chance of a new all-time high in the short term. Significant volatility can be expected in this zone.



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