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As for the technical side of the story, the key level to watch is at around $67,000, and if it can stay above this, it might climb toward the all-time high. The importance of the aforementioned price level is reflected in the fact that $67,000 has been a point of breakdown for BTC numerous times. But if Bitcoin cannot keep above this level, there is support at the 50-day Exponential Moving Average at around $57,757.
If the Bitcoin price stays bullish and the news from the CPI and FOMC is positive, or at least not negative, digital assets might see stabilization after all. A steady or decreasing inflation rate could mean more confidence in riskier investments, and that is where Bitcoin could benefit.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.
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