Since May 6, the bitcoin (BTC) rate has fallen by 8%, dropping to around $27.5 thousand on the morning of May 10, BitRiver financial analyst Vladislav Antonov told bitcoinlinux. According to him, the value of the first cryptocurrency is falling along with stock indices ahead of an important US inflation report. At the same time, the dollar index, on the contrary, has grown, the expert noted.
Republican senators refuse to approve debt ceiling hike [США] without cost-cutting reforms. The White House warned that exceeding the national debt limit could lead to serious economic consequences. Americans teach everyone how to live, but they themselves do not adhere to their own rules, ”he said.
Antonov clarified that the support for the BTC rate remains at $26.5 thousand.
“The market may be subject to high volatility today, at 15:30 Moscow time, after the release of the inflation report. In the event that inflation declines, buyers will receive an impulse to return to $30,000. At the same time, rising consumer prices will put pressure on bitcoin. In this case, the risks will increase under $26.5 thousand,” Antonov concluded.
In early April, experts interviewed by bitcoinlinux suggested that if inflation in the United States decreases this year, the BTC rate could reach $40-50 thousand. On April 11, bitcoin rose above $30 thousand.
