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Us Macro Data

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Bitcoin Price Surges Past $41K Amidst US Macro Data and Fed FOMC Day

Originally Published 2 years ago — by Cointelegraph

Featured image for Bitcoin Price Surges Past $41K Amidst US Macro Data and Fed FOMC Day
Source: Cointelegraph

Bitcoin's price surpassed $41,000 as it reacted to US macro data ahead of the Federal Reserve's FOMC meeting. The Producer Price Index (PPI) came in below expectations, indicating declining inflation, while the Consumer Price Index (CPI) did not significantly impact risk assets. Traders are closely watching the Fed's decision on interest rate changes, with expectations of no rate adjustments. Bitcoin's price action remained choppy, with $48,000 identified as a key resistance level. Traders anticipate potential volatility around the $40.5K and $41.4K levels.

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Bitcoin's Price Dips Below $27K Despite Bullish Trend Lines and CPI Inflation Data.

Originally Published 2 years ago — by Cointelegraph

Featured image for Bitcoin's Price Dips Below $27K Despite Bullish Trend Lines and CPI Inflation Data.
Source: Cointelegraph

Bitcoin's price risks a further loss of support as it heads towards $27,000, despite bullish cues from US macro data. Market participants continue to prepare downside targets, with many focusing on the area around $25,000. However, trader and analyst Moustache remains optimistic, focusing on longer-term price trends, as two moving averages, the 20-week and 200-week, are about to stage a form of "golden cross." Meanwhile, US Producer Price Index (PPI) and unemployment data gave crypto investors cause for cautious celebration, with the odds on for interest rates to stop rising in June.

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