Bitcoin price may dip toward $70K as Fed estimates hotter inflation print
BTC’s rising wedge points to a possible drop toward $70,000 as Strategy pauses buying and inflation cools Fed rate-cut hopes....
Key takeaways
- 1Cleveland Fed projects April headline CPI at 3.56% year-over-year, up from March's 3.3%.
- 2Bitcoin's rising wedge pattern suggests potential decline toward $70,000 if support breaks.
- 3Strategy's paused Bitcoin purchases weaken institutional demand that previously supported BTC price.
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Why it matters
Higher inflation expectations reduce Fed rate-cut probability, pressuring speculative assets like Bitcoin. For Indian retail investors, this signals increased volatility ahead of US inflation data and highlights how global monetary policy directly impacts crypto valuations.
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