Bitcoin fell intraday to lows near $70,500 amid the impact of U.S. PPI data beating expectations, the Federal Reserve maintaining interest rates unchanged, and escalating Middle East tensions. Veteran trader Peter Brandt points out that Bitcoin's current price exhibits two formations: one is a constructive "bullhorn" pattern that suggests prices could rise to $80,000; the other is an "ugly" flag pattern that could cause prices to pull back to support levels near $68,000.

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