Bitcoin Under Pressure After U.S. Inflation Data.. Will the Decline Continue?
Bitcoin fell to around $82,767, recording a decrease of 0.72%, amid market concerns over U.S. inflation rising to 3.7%, above the expected 3.6%, which could reduce the chances of an interest rate cut and support the dollar.
The chart on the 15-minute timeframe shows clear selling pressure, with the price trading below the moving averages (7, 25, and 99), which strengthens the likelihood of the correction continuing in the short term.
Support: $82,600 then $82,250
Resistance: $82,950 then $83,400
Continued trading below $82,600 could increase selling pressure, while reclaiming the $83,400 level could help Bitcoin recover. Market movement remains tied to investors’ reaction to inflation data and interest rate expectations.
#cpi
Bitcoin fell to around $82,767, recording a decrease of 0.72%, amid market concerns over U.S. inflation rising to 3.7%, above the expected 3.6%, which could reduce the chances of an interest rate cut and support the dollar.
The chart on the 15-minute timeframe shows clear selling pressure, with the price trading below the moving averages (7, 25, and 99), which strengthens the likelihood of the correction continuing in the short term.
Support: $82,600 then $82,250
Resistance: $82,950 then $83,400
Continued trading below $82,600 could increase selling pressure, while reclaiming the $83,400 level could help Bitcoin recover. Market movement remains tied to investors’ reaction to inflation data and interest rate expectations.
#cpi