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📉 Bitcoin ($BTC ) dips to $103K amid investor caution ahead of the U.S. inflation report and regulatory developments in Arizona.
#CryptoCPIWatch #Bitcoin
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📊 U.S. CPI data for April shows a 0.2% increase, bringing the annual rate to 2.3%, the slowest pace in over four years. This cooling inflation could influence the Federal Reserve's interest rate decisions.
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📉 Despite the favorable CPI data, Bitcoin failed to capitalize, experiencing a second day of Wall Street sell-off. Traders anticipate a potential drop below $100,000.
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🚫 Arizona's regulatory stance adds pressure: Governor Katie Hobbs vetoed bills that would have increased the state's involvement with crypto, including a proposed Digital Assets Strategic Reserve Fund.
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📈 Current BTC Price: $103,900
📉 24h Change: +0.96%
📊 Market Cap: $2.057 Trillion
📈 24h Volume: $35.91 Billion
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🔍 Key Levels to Watch:
Support: $100K (psychological level)
Resistance: $105K (recent high)
A break below support could signal further downside, while reclaiming resistance might reignite bullish momentum.
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💬 Market Sentiment:
Investors remain cautious, balancing the positive CPI data against regulatory uncertainties. The next few days will be crucial in determining Bitcoin's short-term trajectory.
