Investing.com – Bitcoin suffered from risk aversion, which was the dominant theme on Friday in global markets, as US CPI beat expectations and hit a 40-year high that guaranteed in the eyes of the market that the Fed will not relax its efforts anytime soon, and that therefore no pause in rate hikes is to be expected, contrary to some speculation.
The US consumer price index rose 1.0% from April, bringing the annual headline inflation rate to a new 40-year high of 8.6%. Analysts expected the headline rate to remain at 8.3%, with a monthly gain of just 0.7%.
In this context, the , strongly correlated to Bitcoin, posted a pullback of 3.52% at the close yesterday, and the cryptocurrency fell to a low of $28,864, while it was trading above $30,000 in early trading. daytime.
Important Technical Thresholds for Bitcoin
However, from a technical point of view, the movements of the latter had little impact, remaining in the range that has guided its evolution since mid-May.
We will therefore continue to monitor the supports located around $28,650, $28,000 and $26,600 (annual low 2022), as well as several resistances between approximately $31,400 and $33,000.