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<ul class="news-points">
 <li>Bitcoin surpasses $66,000 after CPI data release.</li>
 <li>Analysts predict the end of the BTC downtrend.</li>
 <li>BTC eyes $70,000, buoyed by bullish indicators.</li>
</ul>
Bitcoin’s price surged another 6% on Thursday, surpassing $66,000 for the first time since March. As of press time, it stands at $66,225.85 with a market capitalization of $1.295 trillion. Similarly, its trading volume has surged by 76.00%, amounting to $42.575 billion.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/n8gE7WgHGI9-6N3cR3oYalv4OkqQiYtlBYIvxCnFWvyUCsSZ9pEU5v8QtHf3p48Y9FdQpOwvl9VIivGdmjfGA029WRI8Lkf3CTMw80cNPfliHWCV7Gro7NdDn1DLvICqKN-oEpGT2MoEjs0rZkTSZJk" alt="">
</figure>
BTC/USD 24-Hour Chart (Source: <a href="https://coinstats.app/coins/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinStats</a>)
This surge comes after the recent U.S. <a href="https://www.bls.gov/news.release/cpi.nr0.htm" target="_blank" rel="noopener noreferrer nofollow">Consumer Price Index (CPI)</a> data release on Wednesday. Bitcoin has now crucially broken above the $64,000 resistance level, potentially setting the stage for further gains to new all-time highs.
<h2 class="wp-block-heading" id="h-market-analysts-signal-end-of-downtrend">Market Analysts Signal End of Downtrend</h2>
Rekt Capital, a <a href="https://www.rektcapital.co/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency research firm</a>, said the recent breakout suggests the Bitcoin downtrend might be nearing its end. The firm noted that markets often test investor resolve with pullbacks before significant gains materialize.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “The Bitcoin bull market is not over,” Rekt Capital remarked.“
</blockquote>
Additionally, Bitcoin shows signs of reducing sell-side momentum, beginning to stabilize around the $60,000 support level. …
The post <a href="https://coinedition.com/bitcoin-breaks-66k-barrier-following-cpi-data-eyes-new-highs/" rel="noopener noreferrer nofollow">Bitcoin Breaks $66K Barrier Following CPI Data, Eyes New Highs</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Breaks $66K Barrier Following CPI Data, Eyes New Highs

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