Bitcoin price aims to hold $70K amid rising inflation concerns
Bitcoin searches for equilibrium at $70,000 while rising crude oil prices and tanking stock markets have investors worried over the future of inflation in the US.
Bitcoin’s (BTC) swift rejection from its $76,000 range high on Tuesday, and the subsequent sell-off below $70,000, raised concerns among traders that the bottom is not in for BTC.
Chartered market technician Aksel Kibar suggested that a bearish wedge pattern similar to the one seen from December 2025 to early January 2026 may be forming again.
Kibar said,