Bitcoin digests highest US CPI since 2023 as Fed rate hike woes return
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- Bitcoin price hovered around $81,000 after US CPI data showed a 3.8% YoY increase, the highest since 2023.
- US Consumer Price Index rose 3.8% YoY in April, driven by an 18% jump in energy prices, reflecting the impact of the US‑Iran conflict on oil supplies.
- CME Group’s FedWatch Tool showed market expectations anchored around current rates staying unchanged through 2026.
- Bitcoin traders identified $78,800 (21‑day SMA) as key short‑term support and $82,600 (200‑day SMA) as resistance, with a potential R/S flip at $80.7k.
- Michaël van de Poppe warned that breaching the $76k support zone could trigger a substantial lower move for Bitcoin.
Why it matters: Crypto investors face heightened risk as Bitcoin’s $81k level tests key support; a breach below $76k would trigger broader sell‑offs, while the Fed’s steady‑rate outlook pressures risk‑on assets.
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