Bitcoin investor sentiment has reached a seven-month high, with a bullish pennant pattern suggesting a potential rally to $115,000. The recent Consumer Price Index (CPI) data showed a lower-than-expected inflation rate of 2.4% year-over-year, prompting a brief surge in Bitcoin prices above $110,000. While there is growing optimism about a potential U.S.-China trade deal, expectations for an immediate interest rate cut by the Federal Reserve remain low. Additional moves in Bitcoin prices could occur after the Producer Price Index (PPI) data is released, with lower-than-expected results likely to further boost BTC sentiment. Technical analysis indicates immediate resistance at $110,000, with support levels identified at $106,748. Overall, the bullish market sentiment is enhanced by stable funding rates, indicating that buying pressure is primarily driven by spot purchases rather than high leverage trading, suggesting continued upward momentum for Bitcoin prices.

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