Cryptocurrency Price on April 10: Bitcoin falls below $69,400 ahead of US inflation data
U.S. consumer price data due on Wednesday will be closely watched by investors as they seek direction on the next move in interest rates. The data is expected to show a rise in headline inflation to 3.4% year-on-year, from 3.2% in February.
Edul Patel, CEO of Mudrex, said, «Following a climb to $72,000 yesterday, Bitcoin retreated to $68,000 due to increased liquidations. Traders are keeping a close watch on today's US CPI data, which might exceed expectations. Bitcoin's current support stands at $67,700, with resistance noted at $70,400.»
Meanwhile, CoinDCX Research Team, said, «In the last 24 hours, the crypto market experienced a downturn, primarily due to net outflows of ETFs, which negatively impacted the market sentiment.»
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View Details»It's worth noting that today's US CPI announcement may introduce further volatility into the market, CoinDCX said.
At 10.39 a.m., other altcoins such as Solana (-3.6%), Dogecoin (-5.2%), Cardano (-4.3%), Avalanche (-3.4%), Shiba Inu (-4.6%), Polkadot (-5.6%), and Bitcoin Cash (-7.4%) declined.
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