🚨 Bitcoin is under pressure at technical levels… and PPI data could be the market’s next catalyst!

Will we see Bitcoin rebound after Friday’s data, or will support break and price head toward $71,000?

📊 Join us on Friday for the U.S. Producer Price Index (PPI) data for October, at 4:30 PM Saudi time 🇸🇦.

📌 Expected scenarios ✅:
1️⃣ If the PPI reading comes in above expectations:
Rising concerns that inflation will persist.
The Fed may take a more hawkish stance and delay rate cuts.
The U.S. dollar could strengthen.
Potential selling pressure on Bitcoin and cryptocurrencies.
Support levels may be tested lower.
2️⃣ If the PPI reading comes in below expectations:
Inflation concerns may ease.
Expectations for rate cuts may rise.
The U.S. dollar could weaken.
Risk appetite may improve.
Bitcoin and altcoins could rebound.
3️⃣ If the reading matches expectations:
Its impact may be limited, and the market will focus on the details and the dollar’s and bond yields’ reaction.
📉 Bitcoin (BTC) technical outlook:
Support levels:
72,691
71,200–71,500

Resistance levels:
74,700–75,100
75,780–77,780
🎯 What should we watch?
✅ Holding above $72,691 keeps the recovery opportunity alive.
✅ A daily close above $74,700 could boost the chances of a rise and a retest of resistance levels.
⚠️ A daily close below $72,691 could open the door to a decline toward $71,500–$71,200.
$BTC #BTC