Bitcoin: Drops Below $77,000 on Hot PPI
Bitcoin drops below $77,000 after hotter PPI triggers $190M long liquidations, with BTC at $77,180 testing lower Bollinger support amid bearish EMA50 resistance.
SourceAnalysis
Bitcoin crashed $1200 below $77000 as hotter-than-expected PPI data hit, triggering over $190 million in crypto long liquidations within 60 minutes. BTC price reaction to inflation prints shows consistent downside pressure, with current levels at $77180.34 testing lower Bollinger support at $77491.42 while EMA50 resistance sits at $78749.58 and MACD death cross confirms bearish momentum on the 4h chart; RSI at 31.97 leaves room for short-term consolidation before any BTC price prediction reversal.
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