Bitcoin briefly rose to $73,000 after the release of the US March CPI data, attempting to set a new high for the period. Data showed that overall US inflation was slightly lower than market expectations, but a significant rise in energy prices created a divergence. Specifically, the US March CPI rose 3.3% year-on-year, and the month-on-month figure was 0.1% lower than expected; energy prices rose 10.9%, with gasoline prices surging 21.2% month-on-month, marking the largest monthly increase since 1967. Financial markets reacted relatively restrainedly, with US stocks opening largely flat and Bitcoin showing no significant volatility. Meanwhile, influenced by the previous PCE data, the market has largely ruled out the possibility of a short-term interest rate cut by the Federal Reserve. From a trading perspective, analysts believe that Bitcoin is currently trading within a converging range. If it retests key highs in the short term, market reaction will be a crucial signal for its subsequent trend, with the $74,000 level considered a key liquidity area. (Cointelegraph)
