Institutional analysts point out that for bitcoin investors, tonight's U.S. January CPI report could have a major impact on the direction of the market. A lower-than-expected CPI, especially excluding core data for food and energy, could boost hopes that the Federal Reserve will ease interest rates. Such a scenario could weaken the dollar and make U.S. Treasury yields more attractive, potentially boosting demand for riskier assets such as bitcoin. However, those eager for a sharp rally in cryptocurrencies may want to lower their expectations. While a cooling CPI could provide a temporary boost, the overall economic situation remains the dominant factor. CoinDesk believes that with inflation expected to remain in focus and the Federal Reserve remaining cautious, bitcoin price action could be limited to the narrower end of the $90,000 to $110,000 trading range, especially if the CPI report shows higher-than-expected data.