Bitcoin approaches resistance as Iran tensions and US data test momentum
Updated
Updated · BeInCrypto · May 10
Bitcoin approaches resistance as Iran tensions and US data test momentum
9 articles · Updated · BeInCrypto · May 10
The cryptocurrency traded at $81,269, with the 200-day EMA at $82,036 and a Fibonacci target near $83,400 as traders watched Trump's Iran remarks and this week's US inflation data.
Tuesday's CPI, Wednesday's PPI and OPEC report, and Thursday's retail sales could quickly shift Federal Reserve rate-cut expectations and risk appetite, while Bitcoin's RSI above 65 signals strengthening but potentially overbought momentum.
Bitcoin has rebounded about 35% from February lows near $60,000, helped by roughly $2.7bn of late-April spot ETF inflows, but a break below $78,915 would threaten the current recovery channel.
As institutions buy Bitcoin, will bearish chart patterns and global risks trigger a major price correction?
As nations weaponize Bitcoin in global conflicts, is it becoming a strategic asset or a riskier bet?