Bitcoin Price Prediction: As US CPI Rises More Than Expected, Analysts Say Consider This ICO Offering Huge Staking Rewards For DOGE, SHIB, And PEPE
The Bitcoin Price rose a fraction of a percent in the last 24 hours to trade at $60.373 as of 03:40 a.m. EST on trading volume that rose 7% to $30 billion. This comes as the US consumer price index (CPI) increased a seasonally adjusted 0.2% in September, putting the annual inflation rate at 2.4%. Both were 0.1 percentage points higher than expected. Meanwhile, core inflation, excluding food and energy, increased 0.3% on the month, putting the annual rate at 3.3%. Bitcoin Price Aims For A Bullish Trend Reversal According to data from GeckoTerminal , the Bitcoin price appears to be in a sideways to slightly bearish phase, as the bulls struggle to keep it above $66,000. The recent downtrend from the $62,200 support allowed the bears to push Bitcoin’s price below both the 50-day and 200-day Simple Moving Averages (SMAs). The Relative Strength Index (RSI) is in the lower-middle range, currently at 42, leaning slightly towards oversold territory (below 50 but not yet below 30). T...