CPI comes in showing easing inflation, Fed rate-hike expectations cool down, BTC rebounds!

This time, the U.S. CPI data has been released, bringing a wave of good news to the crypto market. The inflation data is clearly lower, and market expectations for the Fed’s subsequent rate hikes have cooled down across the board. BTC, too, followed suit and saw a rebound and recovery. The big one surged to above 65,000, and the second one is approaching the 1,900 area.

This rebound has been quite strong. In just one day, the big one rallied by 3,000 points, and the sentiment to go long in the market has gradually returned. At present, BTC is still overall strong, and there’s no signal that the upward move has stopped. Watch two key resistance levels at 657 and 664. As long as the price can’t effectively hold above 65,600, there is still a need for a pullback.

We’ve been looking to go long since last week. If the key support at 618 doesn’t break, then a rebound will be triggered. The lowest dip would also start the rebound, with the turnaround beginning around the 618 area. Yesterday, boosted directly by the CPI data, it jumped straight up to the target level of 639. Sentiment still hasn’t faded—during the Asian session it directly surged to above 65.

BTC trading suggestion: 66,000–66,300箜 Defense: 67,200 Target: 64,700; if broken, watch 64,000–63,600

ETH trading suggestion: 1,915–1,925箜 Defense: 40 points Target: 1,855; if broken, watch 1,810–1,790 #Gate现货增速全球第一