The Bitcoin market is facing a possible short-term technical sell-off before the crucial Consumer Price Index (CPI) inflation report releases on May 13. This dynamic has occurred amidst promising developments, such as positive US-China trade talks and significant Bitcoin acquisitions by prominent companies.

The recent market movements saw Bitcoin briefly dip but managed to hold its position above $100,000. Analysts attribute this correction partly to de-risking efforts by traders, who priced in the news of the US-China deal. The potential for Bitcoin's price consolidation is also hinted by Glassnode's analytics, citing observed profit taking.

Despite these short-term fluctuations, the broader market sentiment reveals sustained interest and growth in Bitcoin adoption from institutional players. As financial markets respond to various economic signals, the crypto community anticipates further movements contingent upon the details of the upcoming CPI report.