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.
Bitcoin (BTC) may head into next week’s US inflation report with less support than it had during the last two CPI releases, raising the risk of a pullback toward $70,000.
Key takeaways:
The Cleveland Fed’s latest inflation nowcast estimates April CPI at 3.56% year over year, up from 3.3% in March.