Bitcoin in Limbo as Stocks Rebound Ahead of US Inflation Report
Summary
Bitcoin rebounded 0.7% to about $74,600 after falling to a more-than-two-month low, following roughly $1.2 billion in crypto liquidations over 24 hours, mostly leveraged long positions. Technical indicators show a weakened but not clearly reversed longer-term trend: BTC is below its 50-week EMA near $78,250 but above the 200-week EMA around $69,790. Analysts’ cited support levels are $74,400, $72,550 and about $69,000; resistance is near $76,040 and $78,250, with $80,360 and $87,350 higher. Broader market attention also centers on the upcoming U.S. inflation report and the possibility of a Federal Reserve rate hike.
