Bitcoin's price corrected by 1.8% on February 12, hitting a nine-day low, following a higher-than-expected US Consumer Price Index (CPI) reading of 3% year-over-year for January. This downturn raised concerns about Bitcoin's ability to reach the coveted $100,000 mark amid worries regarding global economic growth and rising tariffs. The stock market's decline further fueled Bitcoin's drop, with S&P 500 futures reversing gains and reflecting a broader risk-off sentiment. Additionally, SoftBank's reported $2.4 billion loss in Q4 pressured investors, leading to moves towards cash. The strengthening US dollar and rising treasury yields suggested a shift to safer assets, compounding Bitcoin's bearish outlook. Miners are facing reduced profitability due to lower demand for block space and high energy costs, prompting fears of more miners exiting the market, which could threaten network security. Despite these challenges, Bitcoin remains an attractive option in the risk-off category for institutional investors, keeping future price rallies possible but uncertain.

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