Core

Bitcoin

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-65000-as-inflation-slows-in-april/" data-wpel-link="internal">Bitcoin Surpasses $65,000 as Inflation Slows in April</a><br></p>
<p style="text-align: justify">According to US inflation <a href="https://newslinker.co/" data-wpel-link="exclude">data</a>, inflation grew more slowly in April, rising by 0.3% compared to 0.4% in the previous month, surpassing economists’ expectations of 0.4% monthly growth. The price of <strong><a href="https://en.coin-turk.com/bitcoin-halving-what-investors-should-know-2/" data-wpel-link="internal">Bitcoin</a> (BTC)</strong>, which had been fluctuating between $60,000 support and $64,000 resistance for nearly two weeks, grew against sellers and surpassed the $65,000 level.</p> 
<h2 id="price-movement-in-bitcoin">Price Movement in Bitcoin</h2> 
<p style="text-align: justify">After the limited movement in the narrow range between $60,000 and $64,000, the BTC price is trying to close above $65,000 daily. However, with inflation breaking its rising streak in April, cryptocurrencies show the potential to wake up and recover the losses experienced since April.</p> 
<p style="text-align: justify">According to the CPI report, annual inflation increased by 3.4%, in line with the expectations reported in March, but fell below 3.5%. Excluding volatile food and energy prices, Core CPI increased by 0.3%, in line with market observers’ expectations of 3.6%. This measurement rose to 0.4% in March. Additionally, on an annual basis, core <strong>CPI</strong> fell from 3.8% to 3.6% compared to the previous month.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-351806 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/btv-1.jpg" alt="" width="1557" height="743"></p> 
<h2 id="analytical-reports-on-bitcoin">Analytical Reports on Bitcoin</h2> 
<p style="text-align: justify">Last week, the volume of <strong>Bitcoin</strong> ETFs, which leaned more towards negative flows, seems to be changing momentum with the decrease in inflation in the world’s largest economy. According to SoSoValue data, ETFs recorded over $100 million in total daily net inflows, contributing to a total net inflow volume of $11.84. Although exits from <strong>Grayscale</strong> have decreased in the last few weeks, GBTC still recorded a daily net inflow of -$51 million.</p> 
<p style="text-align: justify">On May 14, the best-performing ETFs were Ark Invest with $133 million, followed by Fidelity with $8 million, and Invesco closing the top three with $6 million. As buyers fight to take control aiming for $70,000 before June, Bitcoin has returned to the bullish front. The cryptocurrency currently stands above three short-term <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">bull market</a> indicators, including the 20-day exponential moving average (EMA), 50-day EMA, and 100-day EMA. The rise of <strong>BTC</strong> is supported by the relative strength index (RSI) entering the overbought zone at 72. If this indicator maintains its upward trend, <strong><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a></strong> can expect Bitcoin to close the gap to $70,000 within the next two weeks.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-surpasses-65000-as-inflation-slows-in-april/" data-wpel-link="internal">Bitcoin Surpasses $65,000 as Inflation Slows in April</a></h5>

Bitcoin Surpasses $65,000 as Inflation Slows in April

Table of Contents

COINTURK NEWS

Other articles published on May 15, 2024

Binance-backed pSTAKE Finance launches Bitcoin liquid staking solution

Crypto Price Analysis 15/5: BTC and SOL Surge 2%, Pepe Coin Rallies 9%

Ethereum Faces Resistance Levels in Recent Market Movements

Polkadot Faces Significant Price Movement

NEAR Price May Surge Above $9

Google I/O 2024 Unveils Gemini AI’s Impressive Demonstrations

Join our free newsletter for daily crypto updates!