Powell said the PPI report was "mixed," and he believed the data was relatively complex. The April CPI data to be released tonight shows that the year-on-year inflation rate in the United States is expected to slow to 3.4% from the previous level.
"Bitcoin's distribution "danger zone" has been declared over? 》
Based on historical data, BTC typically drops in the weeks following a halving event. In April of this year, Bitcoin experienced a sharp decline over two weeks, eventually falling to a two-month low of $56,500. The decline is reminiscent of 2016, where Bitcoin appeared to be oscillating below heavy accumulation range lows. Therefore, from a price perspective, the post-halving ‘danger zone’ may have been reached.
According to the well-known crypto analyst Rekt: “If Bitcoin’s fall back to $56,000 is not the bottom, then the current correction will become the longest callback in the cycle, reaching 63 days. However, historical data shows that the current correction in Bitcoin It ended when the coin reached $56,000 and lasted 47 days.”
Personally, I believe Bitcoin faces significant resistance around $63,500 to $63,700. Considering the CPI data to be released tonight, the market may experience large fluctuations, which may even cause the price of Bitcoin to fall significantly, possibly falling below $56,000, creating panic. At that time, everyone remember to buy the bottom and don’t miss the good opportunity. Being fearful makes us greedy. When the opportunity to buy at the bottom is given, don’t miss this opportunity. Be greedy when others are fearful!
