The crypto market is at a massive crossroads. In today’s video, we deep dive into the charts—no BS, just pure probability. Is Bitcoin preparing for a run to $86,000, or are we looking at a giant bear flag? I’m breaking down the Fibonacci levels, the potential Ethereum Cup and Handle, and the XRP trend line that’s been building for nearly a year. Video by Gareth Soloway.
The live price of Bitcoin (BTC) is trading at approximately $80,700 USD (€68,030 EUR), experiencing an intraday dip below the $80,000 threshold before stabilizing with a minor 24-hour gain of 0.25%.
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News & Insights
-Surging Inflation Data: The U.S. April Producer Price Index (PPI) accelerated to 6% annually. This far exceeded expectations, following a hot 3.8% Consumer Price Index (CPI) print. These figures are complicating the Federal Reserve's path toward interest rate cuts.
-Geopolitical Pressures: Escalating conflict in the Middle East has driven crude oil prices above $100 per barrel. This continues to stoke energy-driven inflation and drag down global risk assets, including crypto.
-Federal Reserve Transition: The U.S. Senate confirmed Kevin Warsh to the Fed board. He is widely expected to succeed Jerome Powell as Chair when Powell's tenure concludes on May 15.
-Institutional Caution: U.S. spot Bitcoin ETFs registered net outflows of $233 million on Tuesday. This signals a temporary risk-off stance from institutional traders ahead of the Senate Banking Committee's upcoming vote on the Clarity Act.
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