#BTC
Bitcoin trades at a major support ahead of the US CPI report. What to watch next?
Bitcoin has fallen back to the key $76,000 support as surging oil prices boosted Fed rate hike expectations. With markets now pricing a 67% chance of a hike, only a soft Core CPI might provide some relief, while a hotter reading could deepen the risk-off move and trigger further losses.
FUNDAMENTAL OVERVIEW
Bitcoin dropped all the way back to the key $76,000 support level, as first the strong US NFP report and later the surge in oil prices increased Fed rate hike expectations.
Bitcoin trades at a major support ahead of the US CPI report. What to watch next?
Bitcoin has fallen back to the key $76,000 support as surging oil prices boosted Fed rate hike expectations. With markets now pricing a 67% chance of a hike, only a soft Core CPI might provide some relief, while a hotter reading could deepen the risk-off move and trigger further losses.
FUNDAMENTAL OVERVIEW
Bitcoin dropped all the way back to the key $76,000 support level, as first the strong US NFP report and later the surge in oil prices increased Fed rate hike expectations.