Bitcoin price may dip toward $70K as Cleveland Fed estimates hotter inflation print

BTC’s rising wedge points to a possible drop toward $70,000 as Strategy pauses buying and inflation cools Fed rate-cut hopes.

Bitcoin (BTC) may head into next week’s US inflation report with less support than it had during the last two CPI releases, raising the risk of a pullback toward $70,000.

Key takeaways:

The Cleveland Fed’s latest inflation nowcast estimates April CPI at 3.56% year over year, up from 3.3% in March.

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