Title: April 10 Crucial Date for Crypto and Bitcoin Markets: Here’s Why
April 10 is shaping up to be a significant date for the cryptocurrency and Bitcoin markets as the United States prepares to announce the Consumer Price Index (CPI) for March. This index, which measures inflation, could have a major impact on the Federal Reserve’s decisions regarding interest rates.
The following day, the U.S. will release the minutes from the Federal Open Market Committee (FOMC) meeting in March, with expectations of interest rates remaining unchanged in May. This decision is closely watched as it can directly or indirectly affect the performance of digital assets, particularly Bitcoin.
Steady interest rates are generally viewed as positive for Bitcoin and other cryptocurrencies, as they make borrowing money cheaper and can lead to increased investment in riskier assets. As of now, Bitcoin is trading around $71,539, and positive news from the CPI and FOMC could potentially boost its price as investors seek additional risk exposure.
On the technical side, the key level to watch for Bitcoin is around $67,000. If the price can stay above this level, it may climb towards its all-time high. However, if it fails to hold above $67,000, there is support at the 50-day Exponential Moving Average (EMA) at around $57,757.
Overall, a positive outcome from the CPI and FOMC announcements could lead to stabilization in the digital asset market, with Bitcoin potentially benefiting from increased confidence in riskier investments. Stay tuned for updates on April 10 and 11 to see how these events unfold.
Source: https://u.today/april-10-crucial-date-for-crypto-and-bitcoin-markets-heres-why
