Bitcoin hovers near the 100-day moving average as it awaits the next rally above $63,000 — TradingView News

Key points:

• Bitcoin is aiming for the $63,000 mark.
• Inflation data will arrive on Wednesday.
• BTC down 17% from all-time high.

Illustration by TradingView

Inflation data from the United States could trigger fresh buying momentum if price pressures show a downward trajectory.

• Bitcoin BitcoinUSD started the week well after a weekend of earnings. Prices have risen in the last two days, pushing towards the $63,000 mark. Investors extended their long bets on the OG token early Monday morning as markets broadly prepared for big events in the coming days. A key report could reawaken the scene and trigger a new rally in the crypto space.
• American inflation data for April it 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 of bolder bets on risky assets, such as Bitcoin and companies. On the other hand, another strong inflation could raise fears of an economic overload and lead to a considerable reduction in cryptocurrency prices.
• Bitcoin hit a record high From approximately $74,000 per coin in mid-March and is now floating near $62,000, which is about 17% below the final peak. Despite the modest decline (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 wiped off about 23% from its record $3 trillion valuation to float near $2.3 trillion.

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