Markets· ★★★★· bearish·

Bitcoin breaks key support after hot CPI: crash toward $78K in play?

  • —US CPI rose to 3.7% year-over-year from 3.4%, up 0.6% month-over-month
  • —Odds of a 25bp hike on October 28 climbed above 50% from about 20%
  • —BTC trades below its 20-period EMA at $83,196 and 50-period EMA at $83,384
  • —Bear flag measured move targets $78,218; RSI at 43 signals weak momentum
Why it matters: A close below $82,000 exposes the $80,000 threshold and the $78,218 target if inflation concerns persist.
#BTC
Source: Invezz
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