Bitcoin traders eye $19K BTC price bottom, warn of 'hot' February CPI
It could be a testing few weeks for Bitcoin and risk assets, market commentators say, with Fed Chair Jerome Powell due to kick off the triggers on March 8. Bitcoin (BTC) failed to react at the March 6 Wall Street open as consensus formed around a potential violation of $20,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $19,000 BTC price is "breakdown target" Data from Cointelegraph Markets Pro and TradingView tracked a limp BTC/USD as it clung to $22,400 at the time of writing. Motionless throughout the weekend, the pair offered few trading opportunities as concerns built up over the impact of forthcoming macroeconomic data from the United States. $BTC 4-Hour Good luck trading this. pic.twitter.com/nc99kF8HbS — The Wolf Of All Streets (@scottmelker) March 6, 2023 Specifically, the February print of the Consumer Price Index (CPI), due March 14, is expected to be "hot," or above expectations, analyst Venturefounder said. "New Bitcoin higher l...