Bitcoin price eyes $74K rematch as US PCE inflation boosts crypto, stocks
Why it matters: A $74k Bitcoin test could steer risk‑asset sentiment and set the near‑term crypto market direction.
- US PCE Index posted 0.3% MoM and 3.1% YoY, calming risk assets and nudging stocks up 0.5%.
- Bitcoin (BTC) broke through its 50‑day SMA, hitting fresh local highs near $74k.
- Michaël van de Poppe sees a $76‑79k resistance zone as a chance for momentum and a chance to erase February’s correction.
- Daan Crypto Trades cautions that a break below the current zone could trigger a “large drop.”
- Roman labels the move a “bearish retest,” pointing to RSI divergence, falling volume, and a MACD reset.
- Filbfilb watches open interest, noting no dip yet, which would signal the rally’s end.
Bitcoin surged toward $74,000 after the U.S. PCE inflation matched expectations, reigniting bullish hopes while technical analysts warn the rally could be a fragile, bearish retest.
