Bitcoin teeters near 100-day moving average as it waits for next leg above $63,000 – TradingView News

Key points:

• Bitcoin is targeting a cap of $63,000.
• Inflation data will be released on Wednesday.
• BTC is down 17% from its all-time high.

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Inflation data from the US could trigger a new buying impulse if price pressures show a downward trajectory.

• Bitcoin BitcoinUSD had a strong start to the week after a weekend of gains. Prices have risen in recent days, reaching the $63,000 mark. On Monday morning, investors extended their long bets on the OG token as markets largely prepared for major events in the coming days. An important report could shake things up and trigger a new rally in the crypto space.
• America’s inflation data April is scheduled for release on Wednesday. Digital asset enthusiasts will be watching to see if consumer prices have cooled – a sign of a healthy economy and a driver for bolder bets on risky assets like Bitcoin and companies. On the other hand, another strong impact of inflation could raise fears of economic overload and lead to a considerable reduction in cryptocurrency prices.
• Bitcoin broke record in about $74,000 per coin in mid-March and is now floating near $62,000, or about 17% below the final peak. Despite the modest drop (by crypto standards), Bitcoin has added more than 40% to its valuation this year, or about $500 billion in market capitalization, for a total value of $1.2 trillion. The entire digital asset space has shed about 23% of its record $3 trillion valuation to float near $2.3 trillion.

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