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

BTC

BTC/USDT

$79,955.33

-0.01%

$79,955.33

-0.01%

(24s)

24h Volume

$7,241,027,928.91

24h H/L

$80,107.99 / $79,233.00

Change: $874.99 (1.10%)

Long/Short

53.2%

Long: 53.2%Short: 46.8%

Funding Rate

+0.0022%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,744.00

▼ -0.11%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$81,908.22

Resistance 1$79,779.60

Price$79,744.00

Support 1$79,635.96

Support 2$77,455.78

Support 3$73,033.65

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):66.4

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