© Reuters
Investing.com – After setting new all-time highs for several days, the price fell on Thursday and accelerated its fall this Friday morning, to $67,500 at the time of writing this article, down 7.5% over 24 hours, and stable on one week.
There seems to be no bad news to explain this correction, which undoubtedly results at least in part from profit-taking.
From a macroeconomic point of view, however, we note that the higher than expected producer price index published yesterday afternoon slightly reduced expectations of a rate cut by the Fed, which weighed on cryptocurrencies, including Bitcoin.
As for this Friday, some US statistics will still be likely to influence trade, notably the import-export price index, the Empire State index and consumer confidence.
From a graphical point of view, the underlying trend of Bitcoin visible on the daily chart remains bullish. For now, the recently tested $68,000 area appears to be acting as support.
In the event of a return to the increase, the psychological threshold of $70,000 will be the first important barrier to take into account.