Bitcoin Slides To $85K

Benzinga

Bitcoin hovered near $85K after soft CPI data, with heavy liquidations and analysts pointing to a tight trading range. Traders are watching key resistance near $88K–$90K as macro events loom.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Bitcoin traded around $85,000 on Wednesday, showing a muted reaction to softer-than-expected

00:08U.S. inflation data, according to Benzinga. Coinglass data showed 154,181 traders were

00:15liquidated in a 24-hour period, totaling $504.89 million. Chart analyst Ali Martinez said

00:23Bitcoin remains range-bound on lower time frames, with resistance near $89,900 and support around

00:29$85,400. Don Crypto Trades said Bitcoin has not swept its monthly high or low, a setup

00:37that often resolves before month-end. Michael Van De Poppe said Bitcoin failed to hold gains

00:42after CPI data, with $88,000 remaining the key resistance level. As traders await a Bank of

00:48Japan decision, Nasdaq rose, gold held steady, and crypto lacked. For all things money, visit

00:54Benzinga.com.

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