After overnight CPI data was released, Bitcoin volatility increased. Inflation data was relatively mild, and the market is betting on a rate cut by the Federal Reserve in April. The weakening dollar has driven capital back into risk assets, and ETH has moved higher accordingly.

This rally is driven by liquidity expectations, with the daily moving averages in a bullish alignment, 4-hour indicators showing strength, and the medium-term trend looking positive. However, it should be noted that the price has not yet broken through the December rebound high, with significant resistance above and the risk of profit-taking at high levels still present.

In the short term, the hourly chart of Bitcoin shows overbought correction signals, and a pullback is likely to be confirmed within the day. Support levels are around 3250-3200, with resistance at 3350-3400. Until a volume breakout occurs, it is advisable to treat the move as a rebound with resistance and consolidation.

Today, focus on the pace of market correction, and also pay attention to speeches by Federal Reserve officials in the evening to guard against increased short-term volatility.