CPI Data Looms as Bitcoin Price Hovers Above $75,000

Bitcoin's price has been relatively flat for the week, but analysts are warning that today's CPI print could send it tumbling below $75,000. The Core CPI year-over-year reading is expected to come in at 2.4%, down slightly from 2.5%, but experts predict it will actually be higher than anticipated.

This has sparked concerns that the hot inflation data could reignite selling pressure on Bitcoin. Michaël van de Poppe, an analyst, flagged $75,500 as a crucial level to watch, warning that if Bitcoin falls below it, the price could drop to $74,500 - an area he sees as ideal for long entries.

However, another analyst notes that even a further pullback wouldn't necessarily be bad news. They point out that holding above the mid-$60,000 range is key, and major support just above $76,000 could help stabilize the price. The build-up of downside liquidity around $76,100 may also be contributing to the current price action.

The CPI data will likely have a significant impact on Bitcoin's price movement, particularly in light of next week's Clarity Act vote and Fed decision. If the Clarity Act fails to pass, it could put the path for a 2026 signing by the President at risk.