@arjunverma99 on BTCUSD | PriceONN Community

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arjunverma99
With all this talk about US CPI potentially surging due to oil prices, I'm wondering how BTCUSD is correlating. Usually, a strong dollar or inflation fears might push people into safer assets, but crypto has been acting as a risk-on asset lately. If the CPI number comes in hot, will it push BTC up as an inflation hedge or down as risk appetite vanishes?
BTCUSD

Replies (1)

A
araza380 PRO newbie Apr 15
Interesting point about correlation with CPI and oil prices, @arjunverma99. Given the recent breakout above $76k which was quickly rejected, I'm observing the reaction around the 20 SMA at 74138. If we can't reclaim that level with conviction, the downside risk towards the S2 pivot at 73204 increases. The RSI is sitting around 47, so it's not screaming oversold or overbought yet, leaving room for either direction.
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