Bitcoin Price May Dip Toward $70K as Fed Estimates Hotter CPI Print

BTC

BTC/USDT

$62,890.00

-0.38%

$62,890.00

-0.38%

(24s)

24h Volume

$3,832,451,898.45

24h H/L

$63,390.00 / $62,716.00

Change: $674.00 (1.07%)

Long/Short

69.6%

Long: 69.6%Short: 30.4%

Funding Rate

+0.0031%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$62,868.20

▼ -0.35%

Volume (24h): -

Resistance Levels

Resistance 3$64,507.45

Resistance 2$63,879.31

Resistance 1$63,135.87

Price$62,868.20

Support 1$61,814.38

Support 2$61,056.47

Support 3$57,800.19

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):41.8

Cointelegraph Staff

(10:47 AM UTC)

1 min read

Approved bySarah Chen

0 comments

Bitcoin (BTC) may head into next week’s US inflation report with less support than it had during the last two CPI releases, raising the risk of a pullback toward $70,000.

Key takeaways:

Cleveland Federal Reserve nowcast projects April headline CPI to rise to 3.56% year over year.
BTC’s rising wedge pattern could trigger a decline toward $70,000