U.S. April core PCE price index annual rate rises to 3.3%, the highest level since November 2023, surpassing market expectations of a cooling trend.

Inflation data unexpectedly rebounds, indicating a significant cooling of the Fed's rate cut expectations, and the market's pricing for rate cuts this year has further decreased.
High inflation will force the Federal Reserve to maintain high interest rates, increasing the opportunity cost of holding non-yielding assets (such as BTC), directly suppressing the valuation of risk assets, which is also an important catalyst for BTC's synchronized decline.
In the short term, the market will continue to trade the "high interest rate + high inflation" combination, and BTC's rebound potential will be significantly limited by macro factors.

The 4-hour timeframe shows a clear bearish trend, with technical and fundamental factors resonating, and it is not advisable to blindly bottom fish at this time.

Support below: 726-730 range, a break below may lead to further decline.
Second support: 717-706

Resistance above: 743-755 range, only a move back above 743 could alleviate the bearish pressure.