BTC price stuck under $70,000 as investors play it safe before U.S. inflation report: Crypto Daybook Americas
Bitcoin fell below $70,000 due to geopolitical tensions and anticipation of the U.S. inflation report, causing market caution.Summary
Bitcoin (BTC) dropped back below the $70,000 mark as investors adopted a cautious stance ahead of the release of U.S. inflation data. This wariness was amplified by reports of Iran laying mines in the Strait of Hormuz, a critical oil chokepoint, following earlier comments from the U.S. Energy Secretary that briefly unsettled markets. The broader cryptocurrency market mirrored Bitcoin's decline, with major altcoins losing 1% or more.
Analysts suggest that Bitcoin's 50-day simple moving average is a key resistance level; a decisive break above it could signal a medium-term trend reversal. However, the immediate direction hinges on oil prices, U.S. Treasury yields, and Federal Reserve policy. The upcoming February U.S. Consumer Price Index (CPI) report is crucial, as a higher-than-expected inflation figure could reinforce the Fed's hawkish stance, potentially validating expectations of no rate cuts this year and increasing market volatility.
The article also provided market movements, noting BTC was down 0.78% to $69,794.05, and detailed activity in crypto equities, treasury companies, and ETF flows, showing net inflows for both BTC and ETH spot ETFs.
(Source：CoinDesk)