- Bitcoin’s price could revisit the $26,400 to $26,200 price region.
- The flagship crypto has shown weaknesses ahead of crucial events.
- The U.S. CPI data will be released tomorrow, October 12, by 8:30 a.m. EST.
According to a member of the Binance community identified as Imtiazzavi, Bitcoin’s price could revisit the $26,400 to $26,200 price region if the break below $27,000 sustains. Imtiazzavi projected after the flagship crypto pushed below $27,000 for the first time, rallying above it on October 1.
Although Bitcoin price has returned above $27,000, Imtiazzavi identified weaknesses in the pioneer crypto’s recent price behavior. The Binance community member thinks Bitcoin is at a critical level, considering some of the significant events about to take place in the financial and cryptocurrency sectors.
The U.S. CPI data will be released tomorrow, October 12, by 8:30 a.m. EST, and Imtiazzavi believes the data’s outcome will be significant to what happens to Bitcoin price. The CPI, meaning the consumer price index, measures the change in the price of goods and services purchased by consumers. It gauges the inflation rate and the pulse of the economy.
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