BTC went on a roller coaster ride as soon as CPI data came out: hit a low of 72,691, rebounded to 74,150, and 74,000 support has turned into resistance
BTC went on a roller coaster ride last night as soon as the CPI data came out, dropping to a low of 72,691 before rebounding to a high of 74,150 today. It’s now back around 73,700. 74,000 used to be support, but after breaking below it, it has turned into resistance, and the bulls have lost confidence in the short term.
My take is that the CPI data came in hotter than expected, so funds pulled out first and are now waiting to see what happens. BTC hasn’t truly stabilized yet. It’s repeatedly testing the area around 73,700, so expect more short-term volatility. Tonight, watch to see whether it can get back above 74,000.
ETH is currently at $2,059.97, following BTC’s lead with no independent trend. As for SOL, even Tessera and a one-dollar SOL wallet are getting involved in tokenizing SpaceX shares for retail investors. Funds are still looking for new narratives, though the scale is small for now.
All three coins are waiting for a direction, with BTC as the bellwether. A rebound is only real if it gets back above 74,150. If it can’t hold 73,700, it will keep testing lower levels.
🐶 Let’s check out Old Ma’s little dog together ✨🚀
BTC went on a roller coaster ride last night as soon as the CPI data came out, dropping to a low of 72,691 before rebounding to a high of 74,150 today. It’s now back around 73,700. 74,000 used to be support, but after breaking below it, it has turned into resistance, and the bulls have lost confidence in the short term.
My take is that the CPI data came in hotter than expected, so funds pulled out first and are now waiting to see what happens. BTC hasn’t truly stabilized yet. It’s repeatedly testing the area around 73,700, so expect more short-term volatility. Tonight, watch to see whether it can get back above 74,000.
ETH is currently at $2,059.97, following BTC’s lead with no independent trend. As for SOL, even Tessera and a one-dollar SOL wallet are getting involved in tokenizing SpaceX shares for retail investors. Funds are still looking for new narratives, though the scale is small for now.
All three coins are waiting for a direction, with BTC as the bellwether. A rebound is only real if it gets back above 74,150. If it can’t hold 73,700, it will keep testing lower levels.
🐶 Let’s check out Old Ma’s little dog together ✨🚀