Bitcoin Retreats From $84,000 as Inflation Data Nears
Bitcoin slipped after a brief move to $84,000, while traders watched the $81,000 support level and awaited U.S. inflation data.
Key takeaways
- Bitcoin’s early move to $84,000 faded within an hour.
- The price remained between about $81,000 and $84,000, according to the article.
Bitcoin’s brief move to $84,000 faded within an hour on Wednesday, leaving it near $83,200 as U.S. inflation data approached. As of 10:08 UTC, bitcoin traded at $83,042, down 0.58% over the previous 24 hours.
The article said bitcoin remained between its 50-day moving average near $81,000 and resistance at $84,000. Buyers defended the lower level on Tuesday, but the price had not broken above $84,000.
Alex Kuptsikevich, chief market analyst at FxPro, said caution in Nasdaq-linked markets was weighing on bitcoin. Forecasts pointed to slower underlying price growth in the September U.S. inflation report.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
