Bitcoin experienced a brief correction on May 12, with prices dropping to $102,388 after a high of $105,819. This dip may be attributed to possible profit-taking ahead of the May 13 Consumer Price Index (CPI) inflation report, despite positive developments in US-China trade talks. Notably, Michael Saylor's Strategy announced an increase in its Bitcoin holdings to 568,840 BTC and a notable merger in the healthcare sector involving a Bitcoin investment company. The gains in Bitcoin's price have raised concerns of consolidation, as analytics suggest fresh inflows may slow, particularly affecting momentum buyers. Additionally, as selling increased in both perpetual futures and spot markets, many traders opted to close profitable positions. The Bitcoin adoption continues to grow in traditional finance alongside regulatory improvements, indicating that this current price action might only be a short-term technical correction, potentially reversing post-CPI print. Investors are advised to conduct thorough research before making decisions.

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