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via Cointelegraph · By Cointelegraph Staff
Bitcoin Price May Dip Toward $70K as Fed Estimates Hotter CPI Print
BTC
BTC/USDT
$59,758.00
-1.92%
$59,758.00
-1.92%
(24s)24h Volume
$29,508,505,849.48
24h H/L
$61,962.40 / $58,115.01
Change: $3,847.39 (6.62%)
Long/Short
71.4%
Long: 71.4%Short: 28.6%
Funding Rate
+0.0020%
Longs pay
Data provided by COINOTAG DATALive data
CS
Cointelegraph Staff(10:47 AM UTC)
1 min read
1380 views
0 commentsBitcoin (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
Fed estimates 0.26% rise in headline inflation
The…
COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.
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