Bitcoin Price Due 'New Upwards Leg' Toward $80,000, Says Trader
Cointelegraph
Bitcoin holds around $71,000 as traders eye an $80,000 target following US inflation data that met market expectations.Summary
Bitcoin consolidated near $71,000 as US Personal Consumption Expenditures (PCE) inflation data aligned with market expectations, providing relief to risk assets. While the PCE data offered stability, analysts are now focusing on upcoming Consumer Price Index (CPI) reports to gauge the impact of recent geopolitical tensions on oil prices and inflation. Despite current range-bound price action, market observers like Michaël Van de Poppe maintain an optimistic outlook, suggesting that Bitcoin remains well-positioned for a potential rally toward the $80,000 level.
(Source：Cointelegraph)