$BTC is around $80.7K, down about 3% in 24 hours.
Why? US inflation came in higher than experts expected (3.7% vs 3.6%). That makes it more likely the US central bank raises interest rates. When rates rise, investors tend to sell riskier assets like Bitcoin.
Key price areas:
đ˘ About $80K is the âfloorâ where buyers have stepped in.
đ´ About $82K is the âceilingâ Bitcoin needs to climb back above for the mood to improve.
Next 2 days:
đ⢠Thursday: more inflation data and retail sales.
⢠Friday: a US Fed official speaks.
Markets can swing quickly around these events, so avoid rushing decisions.
â ď¸Its only a financial analysis, Not a financial advice.
NOTE. Update it to the live price, and change the -3.3% to match.
#Bitcoin #BTC #Crypto
Why? US inflation came in higher than experts expected (3.7% vs 3.6%). That makes it more likely the US central bank raises interest rates. When rates rise, investors tend to sell riskier assets like Bitcoin.
Key price areas:
đ˘ About $80K is the âfloorâ where buyers have stepped in.
đ´ About $82K is the âceilingâ Bitcoin needs to climb back above for the mood to improve.
Next 2 days:
đ⢠Thursday: more inflation data and retail sales.
⢠Friday: a US Fed official speaks.
Markets can swing quickly around these events, so avoid rushing decisions.
â ď¸Its only a financial analysis, Not a financial advice.
NOTE. Update it to the live price, and change the -3.3% to match.
#Bitcoin #BTC #Crypto